The relationship between the labor employed by a firm and the real wage rate is shown by the
A) supply of labor curve.
B) supply of jobs curve.
C) demand for jobs curve.
D) demand for labor curve.
D
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New classical economists believe that the classical model
a. with the rational expectations assumption added provides a role for activist stabilization policies. b. is a poor starting point to construct new macroeconomic models. c. with the rational expectations assumption substituted for the perfect information assumption provides a starting point for constructing useful macroeconomic models. d. is equivalent to the monetarist model. e. both c and d.
Which of the following is TRUE about the labor force?
A) It includes those over 16 ages old and are employed. B) It includes those over 16 ages old and are unemployed. C) Both A and B are correct. D) None of the above is correct.