If you observed the wage rate decreasing while employment increased, which of the following would be a possible explanation?
a. A decrease in labor demand
b. A decrease in labor demand coupled with a decrease in labor supply
c. An increase in labor supply
d. A decrease in labor supply
e. It is not possible for the wage rate to decrease while employment is increasing
C
Economics
You might also like to view...
Refer to Table 2-10. What is Fred's opportunity cost of making a unicycle?
A) 1/3 of a pogo stick B) 1/2 of a unicycle C) 3 pogo sticks D) 1.3 pogo sticks
Economics
When income is $15,000, the amount of income income taxes owed is $2,000; when income increases to $20,000, the amount owed increases to $3,000. The marginal tax rate in this case is
A) 20 percent. B) 13.3 percent. C) 15 percent. D) 25 percent.
Economics