We Say That the Demand for Labor Is a Derived

question 154

Multiple Choice

We say that the demand for labor is a derived demand because

• A)labor is a necessary input in the production of every good or service.
• B)we demand the product that labor helps produce rather than labor service per se.
• C)the forces of supply and demand do not apply directly to labor markets.
• D)labor is hired using the MRP = MRC rule.Difficulty: 02 Medium

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Definitions:

Truck Air-Conditioning System

A system designed to cool the interior of a truck, providing comfort to the occupants.

Conditions Underhood

The environmental and operational conditions present in the area under a vehicle's hood, affecting engine and component performance.

Ram Air

Air forced into the engine or passenger compartment when a vehicle moves down a highway. Ram air effect is zero when the vehicle is stationary and increases with vehicle speed. Many truck heat exchangers rely on ram air effect.

Federal Legislation

Laws passed by the federal government of a country, which apply to all regions and citizens within that country.