Labor Is a Resource That Is Necessary to Produce Many

question 126

Multiple Choice

Labor is a resource that is necessary to produce many goods."If the price of labor falls," says the economist,"the prices of goods will soon follow." How does this work?

• A) If the price of labor falls,the supply of goods rises,and the prices of those goods fall.
• B) If the price of labor falls,the quantity supplied of goods rises,and the prices of those goods fall.
• C) If the price of labor falls,the demand for goods falls,and the prices of those goods fall.
• D) If the price of labor falls,the demand for goods rises,and the prices of those goods fall.
• E) If the price of labor falls,the supply of goods falls,and the prices of those goods fall.

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