A firm's demand for labor depends on the
A) nominal wage rate because it pays workers in dollars.
B) real wage rate,which equals the nominal wage divided by the price level.
C) real wage rate,which equals the nominal wage divided by the hours worked.
D) nominal wage rate,which equals the real wage divided by the price level.
E) supply of labor.
Correct Answer:
Verified
Q58: Diminishing returns along a production function means
Q59: The idea that the production function exhibits
Q60: The production function shows that as employment
Q61: The total labor hours that all the
Q62: The lower the real wage rate,the
A)fewer workers
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