Ceteris Paribus, a Leftward Shift in the Labor Demand Curve

question 115

Multiple Choice

Ceteris paribus, a leftward shift in the labor demand curve would cause

• A)the real wage to increase and the amount of labor employed to decline.
• B)both the real wage and the amount employed to increase.
• C)the real wage to decrease and the amount of labor employed to increase.
• D)both the real wage and the amount employed to decrease.
• E)neither the real wage nor the amount employed to change.

---

Definitions:

Sample Correlation Coefficient

measures the strength and direction of the linear relationship between two variables in a sample.

P-Value

A measure in statistical hypothesis testing representing the probability of obtaining test results at least as extreme as the ones observed, assuming the null hypothesis is true.

Significant Level

The likelihood of incorrectly dismissing the null hypothesis, often represented by the symbol alpha (α).

Standard Error Of Estimate

The standard deviation of the observed values from the regression line, indicating the precision of the regression estimate.