If the MRP of labor in a firm is $67, and the MLC equals $56, what would you advise the firm to do?
a. Stay at its current output level.
b. Hire additional workers.
c. Raise prices.
d. Reduce employment.
e. Reduce the wage rate.
B
Economics
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Any change that increases the quantity of labor supplied at all wage rates will ________, assuming all else equal
A) shift the labor supply curve to the left B) cause an upward movement along the labor supply curve C) shift the labor supply curve to the right D) cause a downward movement along the labor supply curve
Economics
A crucial national income accounting identity sets the government budget deficit equal to
A) S - I - NX. B) S + I - NX. C) S - I + NX. D) S + I + NX.
Economics