The Demand Function Curve for Workers

question 35

Multiple Choice

The demand function curve for workers

• A)is dependent on the demand for the product that they make.
• B)is stable as there is no substitute for human labor.
• C)shifts to the right when the population decreases.
• D)shifts to the right when technology allows a firm to replace human labor with machines.

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Definitions:

Dollar Depreciates

A decrease in the value of the U.S. dollar relative to other currencies in the foreign exchange market, making foreign goods more expensive and U.S. exports cheaper.

Gold Standard

A monetary system in which the value of a currency is directly linked to a specified amount of gold, allowing currency to be exchanged for gold at the fixed rate.

Trade Deficit

An economic condition where a country's imports exceed its exports over a certain period, leading to negative net exports.

Exchange Rate

The value of one currency for the purpose of conversion to another, determining how much of one currency can be exchanged for another currency.