Which of the following will increase the marginal product of labor in the labor market?
A: An increase in the price level and the money wage.
B: An increase in the real wage.
C: A decrease in the capital stock.
D: An increase in the supply of labor.
A: An increase in the price level and the money wage.
B: An increase in the real wage.
C: A decrease in the capital stock.
D: An increase in the supply of labor.
举一反三
- Which of the following can be predicted to increase the demand for labor? a. An increase in the price of a gross complement to labor b. A decrease in the price of a gross substitute for labor c. A decrease in the number of firms d. An increase in product demand A: An increase in the price of a gross complement to labor B: A decrease in the price of a gross substitute for labor C: A decrease in the number of firms D: An increase in product demand
- An increase in the population and hence the supply of labor causes a A: shortage of labor at the original real wage rate and the real wage rate will fall. B: surplus of labor at the original real wage rate and the real wage rate will rise. C: surplus of labor at the original real wage rate and the real wage rate will fall. D: shortage of labor at the original real wage rate and the real wage rate will rise.
- In the labor market, an increase in labor productivity ________ the real wage rate and ________ the level of employment. A: raises; increases B: raises; decreases C: lowers; increases D: lowers; decreases
- Which of the following will cause an increase in the demand for labor A: An increase in the labor supply. B: A decrease in labor productivity. C: An increase in the demand for the final good or service.
- A competitive firm hires labor until the marginal product of labor equals the A: real wage. B: rental price of capital. C: price of output. D: capital/labor ratio.