Which of the following will increase the demand for labou...
Which of the following will increase the demand for labour?
Increase wage rate
Labour's demand for output
Low wage rate
Low marginal productivity
Correct answer is C
Factors that can shift the demand curve for labour include: a change in the quantity demanded of the product that the labour produces; a change in the production process that uses more or less labour; and a change in government policy that affects the quantity of labour that firms wish to hire at a given wage. When the payment for labour is low, fills will be willing to employ more people than with an increased wage rate.
The specialization of labour enhances production because people ...
A capitalist economy is one characterized by the ...
In economics, electricity, water supply, communication networks, road, etc are known as ...
The economic goal of public utilities is to ...
The demand for money is described as a ...
The labour force of a country best describes ...
Non-bank financial intermediaries do not ...