In the Labor Market, Adjustments to Changes in Supply and Demand

question 248

Multiple Choice

In the labor market, adjustments to changes in supply and demand

• A) usually occur instantly.
• B) usually take time to occur.
• C) do not apply, since the labor market does not respond to supply and demand forces.
• D) do not apply, since wages in the labor market always go up.

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Definitions:

Owners' Equity

Represents the residual interest in the assets of a company after deducting its liabilities.

Earnings Per Share

A financial metric that measures the amount of net income earned for each share of a company's common stock.

Net Income

The amount of earnings left over for a company after all expenses and taxes have been subtracted from revenues.

Original Sale

The initial sale of a product or service from a producer or provider to the first purchaser or consumer.