An Increase in the Supply of Labour Coupled with an Increase

question 188

Multiple Choice

An increase in the supply of labour coupled with an increase in the demand for labour will result in a(n) __________ wage rate and a(n) __________ employment level.

• A) higher;higher
• B) indeterminate change in the;higher
• C) higher;lower
• D) higher;indeterminate change in the
• E) indeterminate change in the;lower

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Definitions:

Older Workers

Individuals in the workforce who are typically considered to be in the later stage of their working life, often characterized as being near or beyond the traditional retirement age.

Occupational Licensing Laws

Regulations that require individuals to obtain permission, usually in the form of a license, before they can legally work in certain professions.

Labor Markets

The supply and demand for labor, where employers seek to hire workers and workers seek employment.

Competency

An individual's ability or skill in performing a task effectively.