Which of the Following Is True of a Labor Market

question 3

Multiple Choice

Which of the following is true of a labor market?

• A)Firms supply labor and workers demand labor.
• B)Both firms and workers demand labor.
• C)Both firms and workers supply labor.
• D)Firms demand labor and workers supply labor.
• E)Neither firms nor workers demand labor.

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Definitions:

Salvage Value

The anticipated amount an asset will fetch when sold at the conclusion of its useful lifespan.

Illuminate

To light up or brighten a space; in a metaphorical sense, it can also mean to clarify or make something clear and understandable.

Paving Cost

Expenses related to the laying of a pavement, including materials and labor.

Land Improvements

Enhancements made to a parcel of land to increase its value, such as landscaping, fencing, and infrastructure development.