If the Supply of Labour Curve Is Upward Sloping but Not

question 24

Multiple Choice

If the supply of labour curve is upward sloping but not vertical,and if the value of marginal product of labour increases,

• A)the supply of labour increases.
• B)the wage rate rises.
• C)the marginal cost of production increases.
• D)the exploitation of workers decreases.
• E)employment is unchanged.

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Definitions:

Johnson Act

A U.S. law enacted in 1934, limiting the ability of individuals and entities within the United States to loan money or extend credit to nations in default on their debts to U.S. citizens.

Foreign Governments

The governing bodies or administrative authorities of countries other than one's own, involved in international relations and diplomacy.

American Banks

Financial institutions located in the United States, providing services such as savings accounts, loans, and financial transactions.

Economic Downturn

A period of declining economic performance across industries and markets, often characterized by reduced consumer spending and business investment.