In some remote communities, there was only one employer in the local labor market several years ago, but the number of firms that hired workers in the market increased over time
What is the expected change in the local labor market as the number of employers increased (ceteris paribus)? A) Wages and employment increase
B) Wages remain the same but employment increases
C) Wages increase but employment remains the same
D) Wages and employment decline
A
You might also like to view...
When demand increases,
A) consumers are willing to buy more at any price. B) consumers buy more of the good only if its price falls. C) the price is lower at any level of quantity demanded. D) consumers buy more of the good only if its price rises. E) the demand curve shifts leftward.
Sarah and Claire are sisters. Their aunt gave 10 cookies to Sarah and asked her to share some with Claire. She could choose how many she would give her, but if Claire was not happy with her share, her aunt would take back all the cookies
a) How should Sarah decide how many cookies to give Claire if Claire prefers more cookies to fewer cookies? b) Will there be any change in her decision if she knows that Claire values fairness?
Elected government officials ________ support ________ fiscal policies
A) must; contractionary B) tend to; expansionary C) must; expansionary D) tend to; contractionary
A firm’s total profit is the difference between its sales and what it pays out in costs.
Answer the following statement true (T) or false (F)