Figure 4-3 -Refer to Figure 4-3. the Shift from D_b to D_a

question 215

Multiple Choice

Figure 4-3
-Refer to Figure 4-3. The shift from D_b to D_a in the market for potato chips could be caused by

• A)a decrease in the price of potato chips.
• B)a decrease in income, assuming that potato chips are a normal good.
• C)an announcement by the FDA that potato chips lower the risk of getting cancer.
• D)an increase in the price of a popcorn.

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Definitions:

Wages

The fixed regular payments, typically paid on a daily or weekly basis, made by an employer to an employee, especially to manual or unskilled workers.

Employer Prejudice

Biases or preconceived notions held by employers that affect their decisions regarding hiring, promotion, and other employment practices.

Nonpreferred Workers

Individuals in the labor market who may be discriminated against or considered less desirable for employment due to various factors like age, race, gender, or disability.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or a month.