If, at a Particular Wage Rate in a Competitive Market

question 71

Multiple Choice

If, at a particular wage rate in a competitive market, the quantity demanded of labor exceeds the quantity supplied of labor, then

• A)the supply curve will shift to the left, the demand curve will shift to the right, and the surplus of labor will be eliminated.
• B)since wages are so low, the quantity supplied of workers will decrease further, and the quantity demanded will increase further.
• C)some workers will begin to demand higher wages, as a result, employers will begin to hire more workers.
• D)the supply curve will shift to the right, the demand curve will shift to the left, and the shortage of labor will be eliminated.
• E)none of the above

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Definitions:

MSCEIT

Mayer-Salovey-Caruso Emotional Intelligence Test, an assessment tool designed to evaluate emotional intelligence through various tasks and scenarios.

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.

Leader Factors

Attributes or qualities that contribute to an individual's effectiveness in guiding others.

Trait Approach

The theory that effective leaders possess certain inherent personality traits or qualities.