An Outward Shift in the Labor Demand Curve Implies That

question 26

Multiple Choice

An outward shift in the labor demand curve implies that

• A) employers are now looking to hire more workers at any given wage.
• B) employers are now looking to hire fewer workers if the wage decreases.
• C) employers are now looking to hire fewer workers regardless of the wage.
• D) demand for the firm's output likely fell.
• E) a greater number of workers are now more willing to work at any given wage.

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Definitions:

Discount

A reduction from the usual cost of something, typically provided to incentivize a purchase or payment.

Perpetual Inventory

An inventory management system where stock levels are updated on a continuous basis as sales and purchases are made.

Cost of Goods Sold

The total cost directly tied to the production of goods sold by a company.

Schedule of Accounts Payable

A detailed list that tracks the amounts owed by a company to its suppliers or creditors.