In the third division of labor during the upper barbarism appear: a) farmers and herdsmen b) goldsmiths and merchants c) kings and priests d) warriors and slaves
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In the third division of labor during the upper barbarism appear:
a) farmers and herdsmen
b) goldsmiths and merchants
c) kings and priests
d) warriors and slaves
(Choose one option)
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- In which of the following industries is wage determination most plausibly explained by the model of perfect competition? The model of pure monopoly? The model of bilateral monopoly? Odd-job repairs in private homes Manufacture of low-priced clothing for children Auto manufacturingA meeting of representatives for labor and management to negotiate contracts is called Group of answer choices macroeconomics arbitration seizure collective bargainingWhich of the following statements is true? a. A monopsony is the only employer of a factor of production. b. A monopsony will pay workers a higher wage and employ fewer workers than a competitive labor market. c. A monopsony has a marginal factor cost curve which lies below its supply curve of labor. d. Unions are becoming a greater influence in American labor markets.
- "If the wage rate paid to one form of labor is twice the cost of another form of labor, the first type of labor must be twice as productive."Which of the following is likely to increase the supply of labour? a decrease in fringe benefits a relaxation of restrictions on immigration an increase in the value placed on leisure a decrease in the populationWith the aid of diagrams explain the impact of migration on competitive equilibrium in the labor markets of two regions southern and northern
- The firm pictured above will hire ______ workers. A. Q1 B. Q2 C. Q3 D. Q4 E. Q5Under monopsony, wages that are paid are lower than reservation wage. True FalseYou are less likely to find a monopsonistic labor market in a large city such as Philadelphia, Pennsylvania then in a small town such as Dry Creek, Wyoming. true or false
- Under monopsony, the interaction of supply and demand determines wages and number of workers employed. True FalseAccording to the factor price equalization theorem a. Trade will result in a convergence of factor prices across borders b. Trade is a substitute for labor migration c. If factor prices are not equal then firms will adjust production techniques d. If factor prices are not equal then factors will migrate across bordersUnder monopsony, wages are determined by: Demand curve Marginal Labour Cost curve Intersection of MLC and Demand curve Interesection of MLC and Supply curve Supply Curve only
