Over the past 70 years in the United States, employment in service-producing industries had increased significantly and employment in goods-producing industries has declined significantly. Economists would refer to this process as

Anticipated inflation is associated with cost increases which are fully expected

Indicate whether the statement is true or false

In the labor market, as wages rise, households

A) decrease the quantity of labor supplied. B) increase the quantity of labor supplied. C) decrease the quantity of labor demanded. D) increase the quantity of labor demanded. E) increase the supply of labor.