ECO 561 Course Great Wisdom / tutorialrank.com ECO 561 Course Great Wisdom / tutorialrank.com | Page 12

U.S. watch manufacturer sells one of its branch plants D. a
supermarket hires
four additional clerks
13) If the wage rate increases: A. a purely competitive and an
imperfectly
competitive producer will both hire less labor. B. a purely competitive
producer
will hire less labor, but an imperfectly competitive producer will not.
C. an
imperfectly competitive producer will hire less labor, but a purely
competitive
producer will not. D. an imperfectly competitive producer may find it
profitable to
hire either more or less labor.
14) Construction workers frequently sponsor political lobbying in
support of
greater public spending on highways and public buildings. One reason
they do this
is to: A. increase the demand for construction workers. B. restrict the
supply of
construction workers. C. increase the elasticity of demand for
construction workers.
D. increase the price of substitute inputs.