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1. Demand and supply of labor a. (Ch.16) The demand for labor curve is also called the ____________________________ curve b. (Ch.16) The demand for labor
1. Demand and supply of labor
a. (Ch.16) The demand for labor curve is also called the ____________________________ curve
b. (Ch.16) The demand for labor curve is downward sloping because:
c. (Ch.17) The market supply of labor curve is upward sloping because:
d. (Ch.16) T F Ceteris paribus, a lower wage rate will increase the demand for labor.
e. (Ch.16) Assume the demand for labor is elastic. If there is an decrease in the supply of labor,
the wage rate _______________ and labor income _______________.
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