Because Firms Are Willing to Hire Additional Workers at Lower

question 45

Multiple Choice

Because firms are willing to hire additional workers at lower wages,the market labor demand curve is

• A)Vertical.
• B)Perfectly elastic.
• C)Downward-sloping.
• D)Upward-sloping.

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Definitions:

Investment

The act of distributing funds or resources with the aim of earning an income or profit.

GDP Deflator

A financial indicator that adjusts the value of output calculated at present prices to constant-dollar GDP, to correct for inflation effects.

Real GDP

The measure of a country's economic output adjusted for price changes (inflation or deflation), providing a more accurate reflection of an economy's size and how it's growing over time.

GDP Deflator

An indicator showing the price levels for all newly created, final goods and services produced within a country's borders.