Use This Figure for the Questions That Follow

question 47

Multiple Choice

Use this figure for the questions that follow.

-What is the ethnicity of the majority of people in Latin America?

• A) blanco (European)
• B) mestizo (mixed race)
• C) indo (Indian)
• D) negro (black)
• E) Asian

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Definitions:

Labor Demand

The total amount of labor that employers want to hire at a given wage rate and in a given time period.

Labor Supply

The total hours that workers wish to work at a given wage rate, reflecting the workforce availability for employment in an economy.

Workers Employed

Refers to individuals who are currently holding a job in the economy, contributing to the production of goods and services.

Union Established

The formation of a labor union, an organization that represents workers' interests to employers.