A supplyleft b supplyright c demandright d demandleft

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Unformatted text preview: Topic: The Classical View of the Labor Market Skill: Conceptual AACSB: Reflective Thinking 16) Which of the following may shift the labor supply curve? A) an increase in the wage rate B) an increase in the value people place on their time C) an increase in the price of the output of the firm D) an increase in the corporate tax rate Answer: B Diff: 2 Topic: The Classical View of the Labor Market Skill: Conceptual AACSB: Reflective Thinking 17) An increase in the productivity of workers shifts the labor ________ curve to the ________. A) supply; left B) supply; right C) demand; right D) demand; left Answer: C Diff: 1 Topic: The Classical View of the Labor Market Skill: Conceptual AACSB: Reflective Thinking 18) A decrease in worker productivity A) reduces the B) demand for labor. increases the C) demand for labor. reduces the D) supply of labor. increases the supply of labor. Answer: A Diff: 1 Topic: The Classical View of the Labor Market Skill: Conceptual AACSB: Reflective Thinking 19) Martin is employed. The value Martin places on his leisure time is $30 an hour. Martin looks for a job and all the...
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