The concept of demand must be modified
5. The concept of demand must be modified when applied to labor markets to reflect the fact that:
a. non-monetary characteristics of jobs may be as important to workers as their pay
b. labor demand curves slope upward from left to right
c. the demand for labor is derived from the demand for the various products that labor produces
d. the demand for output is derived from the demand for labor used to produce that output
6. The “old” view of labor economics stresses _____ while the “new” view focuses upon _____.
a. analysis ; markets c. description; institutions
b. description; analysis d. institutions; description
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