Which of the Following Statements Is True

question 90

Multiple Choice

Which of the following statements is true?

• A)Firms ultimately demand labor in order to make profits.
• B)Firms demand labor for the tax deduction.
• C)Labor supply shows how the quantity of labor changes with changes in working conditions.
• D)People supply labor for the enjoyment of it.
• E)As everyone must supply labor by necessity, labor demand is all that really counts in the labor market.

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Definitions:

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the end of World War II until the dissolution of the Soviet Union in 1991, characterized by threats, propaganda, and other measures short of open warfare.

Consumerism

A social and economic order that encourages the acquisition of goods and services in ever-increasing amounts.

Foreign Policy

A government's strategy in its interactions with other nations, designed to achieve national objectives.

Age of Affluence

A period characterized by significant economic growth and prosperity, leading to increased consumer spending and lifestyle enhancements, often associated with the post-WWII era in the United States.