Suppose you observed that at the same time employment increased, wages fell. Which of the following is a possible explanation for this observation?
a. An increase in labor demand
b. A decrease in labor demand
c. An increase in labor demand that was outpaced by an increase in labor supply
d. A decrease in labor supply
e. Cannot be determined from the available information
C
Economics
You might also like to view...
Suppose an MP3 player sells for $75 in the United States and 50 pounds in Britain. Which exchange rate is consistent with purchasing power parity?
a) 1.50 pounds for $1. b) 1 pound for $1.50. c) 3 pounds for $1. d) 1 pound for $1.
Economics
Which of the following is an invalid argument for protection?
A) redistribution of income B) infant industry protection C) preservation of the home market D) All of the above
Economics