What Is the Most Likely Effect of an Increase in the Demand

question 7

Multiple Choice

What is the most likely effect of an increase in the demand for a particular type of labour?

• A)The wage rate for that type of labour will rise,and the quantity hired will decrease.
• B)The wage rate for that type of labour will rise,and the quantity hired will also increase.
• C)The wage rate for that type of labour will rise,but the quantity hired will remain unchanged.
• D)The wage rate for that type of labour will fall,and the quantity hired will increase.

Distinguish between short-run and long-run perspectives in macroeconomic models.

Recognize the implications of Keynesian economics for managing recessions and depressions.

Examine the characteristics of the aggregate supply curve and conditions under which it may shift.

Understand Keynes's explanations for the Great Depression and his policy recommendations.

---

Definitions:

Mixed-sex Sibling Pairs

Pairs of brothers and sisters of different genders within the same family.

Middle Childhood

is a stage of development that typically ranges from around age 6 to 12, characterized by significant growth in cognitive, emotional, and social abilities.

Adolescence

The transitional stage of physical and psychological development that occurs between childhood and adulthood, starting with puberty.

Family Rules

Guidelines or expectations established by families to regulate behaviors and maintain harmony, reflecting values and beliefs unique to the family.