Question: The demand for labor is called a derived demand because it depends on Group of answer choices the demand for the goods and services the

The demand for labor is called a derived demand because it depends on

Group of answer choices

the demand for the goods and services the labor produces.

the wage rate.

the quantity of labor used.

the elasticity of the supply of labor.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

The demand for labor is called a derived demand. Which of the following is not an example of derived demand for labor: Group of answer choices the demand for chefs is dependent on the demand for...

Q:

62 Which of the following is not correct? Group of answer choices In a labor market, the wage adjusts to balance the supply and demand for labor. A profit-maximizing firm hires workers so long as the...

Q:

When industrial unions negotiate with an entire industry, wage gains come at the cost of _____ Group of answer choices longer working hours. worse products. labor mobility. worse working conditions....

Q:

Which of the following statements is true? Group of answer choices Leisure is an inferiorgood. Leisure is a normal good. All other things unchanged, an increase in income will decrease the demand for...

Q:

Economists assume that Group of answer choices individuals behave in unpredictable ways. consumer behavior is explained by the existence of unlimited resources. people put other people's interests...

Q:

The responsiveness by SUPPLIERS to produce more or fewer goods or services because of a price change is called: Group of answer choices price elasticity of supply. supply elasticity of demand. income...

Q:

The responsiveness by SUPPLIERS to produce more or fewer goods or services because of a price change is called: Group of answer choices price elasticity of supply. supply elasticity of demand. income...

Q:

Question 12.5 pts What is the Federal Reserves Dual Mandate? Group of answer choices Longest business cycles and maximum employment. maximization of marginal revenue and minimum cost. Maximization of...

Q:

The leading trading partner (most favorite) in international trade for the United States is-----. One of the most closed economies of the world is----- Group of answer choices Canada, North Korea...

Q:

2.Economic analysis is: a. A framework for understanding issues with arise since societies need to make allocation decisions. b. Widely understood by all in our society. c. Important for problem...

Q:

A small bead of mass m is constrained to slide without friction inside a circular hoop of radius r which rotates about a vertical axis with an angular frequency a. Determine (a) the angle the beads...

Q:

When is respondeat superior applicable? When is it inapplicable?

Q:

What is a key step valuing ethical decisions in business

Q:

In 2009, per capita real gross domestic product (GDP) in Croatia was $10,059.68. By 2010, it had increased to $10,257.71. At what rate did Croatia's economy grow in that time?

Q:

Determine whether x= 0 is an ordinary point, a regular singular point, or an irregular singular point. If it is a regular singular point, find the exponents of the differential equation at x = 0....

Q:

If x = a+0 is a singular point of a second-order linear differential equation, then the substitution t=x-a transforms it into a differential equation having t= 0 as a singular point. We then...

Q:

Use power series to solve the initial value problem. y" +xy' - 2y = 0; y(0) = 2, y'(0) = 0 y(x) =D

Q:

What is "defamation" and how does it relates to libel and slander? What constitutes a defamatory act?

Q:

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Q:

2. Think of a person you really appreciate and who is a role model for you, such as something you admire for what the person does or has done (historical people, friends, family, from fairy tales,...

Q:

5. List at least three personal roles that you want to perform better. What can you imagine doing to perform better in these three personal roles. Use tomorrow to improve what you think can be...

Q:

10. Imagine that the goal has been reached. Now think about the path you have to take to reach the goal. How did you influence other people to achieve your goal? Imagine walking along the path you...