If the price level rises but the money wage rate does not, then firms will hire ________ labor and the quantity of real GDP supplied will ________
A) more; increase
B) the same amount of; not change
C) less; decrease
D) more; not change
E) less; increase
A
Economics
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A firm faces competitive markets for its inputs and its output. At the profit maximizing level of output, its marginal cost is $10 and the wage paid is $2. If the MPL = L-0.5, how many workers will be hired by the firm?
A) 35 B) 40 C) 25 D) 5
Economics
When taxes decrease, consumption
a. decreases as shown by a movement to the left along a given aggregate-demand curve. b. decreases as shown by a shift of the aggregate demand curve to the left. c. increases as shown by a movement to the right along a given aggregate-demand curve. d. increases as shown by a shift of the aggregate demand curve to the right.
Economics