In Some Remote Communities, There Was Only One Employer in the Local

question 64

Multiple Choice

In some remote communities, there was only one employer in the local labor market several years ago, but the number of firms that hired workers in the market increased over time. What is the expected change in the local labor market as the number of employers increased (ceteris paribus) ?

• A) Wages and employment increase.
• B) Wages remain the same but employment increases.
• C) Wages increase but employment remains the same.
• D) Wages and employment decline.

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Definitions:

Empirically

In a manner based on observation or experience rather than theory or pure logic.

Personality Traits

Inherent characteristics that influence an individual's patterns of thoughts, feelings, and behaviors.

Brain Scans

Medical imaging techniques used to view structures and activities within the human brain, helping in the diagnosis and study of neurological conditions.

Theoretical Concept

An abstract idea or a set of thoughtful notions formulated to explain events, behaviors, or phenomena.