The labour demand curve slopes downward because
A) workers supply more hours of work when the real wage rate rises.
B) workers supply fewer hours of work when the real wage rate rises.
C) the firm maximises profits by hiring more labour when the real wage rate rises.
D) the firm maximises profits by hiring more labour when the real wage rate falls.
Correct Answer:
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Q2: According to the new growth theory, competition
A)reduces
Q3: All of the following lead to more
Q4: Real GDP grows when
A)Only I
B)Only II
C)Both I
Q5: If the real wage rate is such
Q6: A problem with the neoclassical growth theory
Q7: Which theory emphasises the significance of new
Q8: If real GDP is $800 million and
Q9: We are interested in long- term growth
Q10: The gaps between the Australia and the
Q243: According to new growth theory_ .
A) knowledge
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