A change in a price of a substitute input for labor will cause
A) a change in the demand for labor in the opposite direction of the price change.
B) no change in the demand for labor.
C) a change in the supply of labor in the opposite direction of the price change.
D) a change in the demand for labor in the same direction of the price change.
Answer: D
Economics
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The above table gives the demand schedule for a monopoly. The demand is elastic at all prices between
A) $6 and $1. B) $5 and $1. C) $3 and $1. D) $6 and $4. E) $4 and $3.
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A transfer payment is a payment
A. for which no services or goods are rendered. B. made by the government to its current workers. C. for in-kind services provided to the government. D. associated with items exported to other nations.
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