Figure 18-10 -Refer to Figure 18-10. If the Relevant Labor Demand Curve

question 464

Multiple Choice

Figure 18-10
-Refer to Figure 18-10. If the relevant labor demand curve is D₂ and the current wage is W₁,

• A)there is a surplus of labor.
• B)there is a shortage of labor.
• C)the quantity of labor supplied exceeds the quantity of labor demanded.
• D)workers are failing to take into account the work-leisure tradeoff in deciding what quantity of labor to supply at alternative wages.

---

Definitions:

Amphibians

A group of cold-blooded vertebrates known for living both in water and on land at different stages of their life - including frogs, salamanders, and newts.

Metamorphosis

Dramatic remodeling of body form during the transition from larva to adult.

Desiccation

The process of extreme dryness or the removal of moisture, which can lead to the drying out of living organisms and ecosystems.

Ectothermy

A physiological feature of organisms that rely on external sources of heat to regulate their body temperature.