The labor supply curve: Multiple Choice shows the relationship between the total quantity of labor supplied by
Question:
The labor supply curve:
Multiple Choice
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shows the relationship between the total quantity of labor supplied by all firmsin the economy and the wage rate.
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shows that, all things being equal, more workers will want to work when wages are higher and less will want to work when wages are lower.
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has a negative slope.
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All of these are true.
Between July of 2013 and August of 2013, the official unemployment rate fell from 7.4% to 7.3%, while the participation rate fell from 63.4% to 63.2%. From this information we can conclude that the unemployment rate fell because:
Multiple Choice
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Employed workers left the labor force.
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Workers from outside the labor force become employed.
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Unemployed workers became employed.
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Unemployed workers left the labor force.
Macroeconomics Principles Applications And Tools
ISBN: 9780134089034
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez