The Demand for Labor Curve

question 249

Multiple Choice

The demand for labor curve

• A) is downward sloping because productivity of labor diminishes as more workers are employed.
• B) is upward sloping and the supply curve of labor is downward sloping.
• C) is upward sloping because productivity of labor diminishes as more workers are employed.
• D) shifts rightward when the real wage rate rises.

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Definitions:

Executory

Pertaining to a contract or deal that has not yet been completed or fully executed by all parties involved.

Bilateral

Relating to agreements or actions involving two sides, parties, or countries, where each has obligations or considerations towards the other.

Valid

Legally sound and binding; conforming to the law or to established rules.

Basic Element

A fundamental or essential component or aspect of something.