If the Supply of Labor Increases, Which of the Following

question 159

Multiple Choice

If the supply of labor increases, which of the following events will occur?

• A) The wage rate will fall and firms will increase employment up until the point where MRP equals the new wage rate.
• B) The wage rate will fall and firms will decrease employment to the point where MRP equals the new wage rate.
• C) The wage rate will increase and firms will decrease employment to the point where MRP equals the new wage rate.
• D) The wage rate will increase and firms will increase employment up until the point where MRP equals the new wage rate.

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Definitions:

Canadians

Individuals originating from or holding citizenship in Canada, a country in North America.

Transtheoretical Change Theory

A psychological framework that analyzes the stages of individuals' readiness to change behavior.

Action Phase

In planning or project management, this represents the stage where strategies are implemented and actions are taken to achieve objectives.

Termination Phase

The final stage in a project, therapeutic relationship, or process where activities are concluded and the relationship formally ends.