-Refer to the Graph Above to Answer This Question

question 77

Multiple Choice

-Refer to the graph above to answer this question.Suppose that the original supply and demand curves for labour are S₁ and D₁ and that the market is in equilibrium at point e.What can you conclude has happened if a new equilibrium at b occurs?

• A)The supply of labour,the wage rate and the equilibrium quantity have all increased.
• B)Both the demand for labour and the wage rate have increased while the equilibrium quantity has decreased.
• C)The wage rate and the equilibrium quantity have increased while the supply of labour has decreased.
• D)The wage rate has increased while both the supply of labour and the equilibrium quantity have decreased.
• E)The wage rate and the equilibrium quantity have increased while both the demand for and the supply of labour has increased.

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Definitions:

Job-acceptance Message

A written or verbal response in which an individual accepts a job offer, often detailing the terms of employment.

Neutral Idea

A concept or perception that is unbiased, impartial, or not leaning towards any particular side or opinion.

Expected Salary

The wage or income an individual hopes to earn in a new role, often discussed during job interviews or negotiations.

Behavioral Questions

Questions used in interviews that aim to gather information about past behavior as an indicator of future performance.