Because the productivity of labor decreases as the quantity of labor employed increases
A) the quantity of labor a firm demands increases as the real wage rate decreases.
B) the quantity of labor a firm demands increases as the money wage rate decreases.
C) the labor demand curve shifts right as the real wage rate decreases.
D) the aggregate production function shifts upward as the real wage rate decreases.
A
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If two restaurants sell many of the same food items but one offers a higher level of service, the service distinction is a form of _____.
(A) Local competition (B) Choice among substitute products (C) Nonprice competition (D) Price fixing
Which of the following is the situation in which a nation shifts its international trade from nations outside a regional trade bloc to nations within the bloc?
A) trade diversion B) trade deflection C) trade retention D) protectionism