Everything else remaining unchanged, a sudden increase in the price of oil is likely to cause a(n):
A) downward movement along the demand curve for labor.
B) leftward shift in the demand curve for labor.
C) upward movement along the demand curve for labor.
D) rightward shift in the demand curve for labor
B
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The price elasticity of demand coefficient for a good will be lower:
a. if there are few substitutes for the good. b. if expenditure on it is a small part of one's budget. c. both a and b are true. d. neither a nor b are true.
If the government increases funding to college work-study programs, which of the following would happen in the labor market?
a. Wages will increase and the labor force will increase. b. The labor force will decrease but there will be an ambiguous change in the wage. c. Wages will decrease and the labor force will increase. d. The labor force will increase but there will be an ambiguous change in the wage. e. Wages will increase and the labor force will decrease.