Multiple Choice
Your boss wants to know if you should lay off any workers.You answer that you should lay off workers if the
A) marginal revenue product of labor is greater than the nominal wage rate.
B) marginal product of labor is greater than or equal to the real wage rate.
C) marginal revenue product of labor is equal to the nominal wage rate.
D) marginal product of labor is less than the real wage rate.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: An increase in the number of workers
Q38: Suppose the marginal product of labor in
Q39: An adverse oil-price shock reduces labor demand.What
Q40: Cyclical unemployment arises when<br>A)unskilled or low-skilled workers
Q41: Full-employment output is the level of output
Q43: If Jeff's wage rate rises,he decides to
Q44: In each of the following scenarios,state whether
Q45: Suppose the economy's production function is Y
Q46: The _ is the number of unemployed
Q47: Okun's law relates _ to _.<br>A)inflation; unemployment<br>B)inflation;