A reduction in the demand for labor will cause wages to:
A. decrease and employment to increase.
B. increase and employment to decrease.
C. decrease and employment to decrease.
D. increase and employment to increase.
Answer: C
You might also like to view...
What best describes what happens to the share of income spent on food as income increases?
a. The share increases. b. The share decreases. c. The share stays the same.
"Ensuring that Social Security is financially sound for future generations is an important use of taxpayer dollars" is an example of a
a. normative economic statement. b. positive economic statement. c. statement made by an economist working as a scientist. d. judgment based on evaluation of evidence, not values.
When individuals increase their personal wealth through production and exchange, they
A) reduce the wealth of others. B) increase the wealth of others. C) must be selfish and greedy. D) must rely heavily on government intervention and regulation.
When you deposit $200 in your savings account with the objective of withdrawing it later to buy a video game that is about to be offered in the market in the near future, then the $200 is serving which function?
A. Store of wealth B. Medium of exchange C. Store of real assets D. Unit of account