When Estimating a Labor Demand Function, One Needs to

question 22

Multiple Choice

When estimating a labor demand function, one needs to

• A) assume labor demand is equal across states.
• B) assume labor demand is equal across industries.
• C) labor supply is perfectly elastic.
• D) find an instrument (e.g., policy) that shifts labor demand over time or location.
• E) find an instrument (e.g., policy) that shifts labor supply over time or location.

Calculate and interpret the average rate of return for an investment.

Identify and distinguish between present value methods and methods that ignore present value in capital investment analysis.

Compute and understand the significance of the cash payback period in investment decisions.

Recognize the impact of depreciation and other factors on the profitability and cash flow of capital investments.

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