An Increase in the Population and Hence the Supply of Labor

question 83

Multiple Choice

An increase in the population and hence the supply of labor causes a

• A) surplus of labor at the original real wage rate and the real wage rate will fall.
• B) shortage of labor at the original real wage rate and the real wage rate will rise.
• C) surplus of labor at the original real wage rate and the real wage rate will rise.
• D) shortage of labor at the original real wage rate and the real wage rate will fall.

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Definitions:

Canadian Occupational Projection System

A research program that predicts future trends in the labor market, including demand for different occupations in Canada.

Canadian Economy

The economic structure of Canada, characterized by its diverse resources, including manufacturing, mining, services, and natural resources like oil and timber.

Future

The time or period that comes after the present, which is yet to happen and can be influenced by actions taken in the present.

Enterprise-Wide Systems

Systems that link an organization’s entire software application environment into a single enterprise solution.