Other Things Being the Same, If the Demand for Labor

question 126

Multiple Choice

Other things being the same, if the demand for labor is inelastic,

• A) decreases in wage rates will result in greater payrolls.
• B) increases in wage rates will result in greater payrolls.
• C) increases in wage rates will result in smaller payrolls.
• D) decreases in wage rates will increase both employment and worker incomes.

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Definitions:

External Audiences

Groups or individuals outside of an organization who are stakeholders or potential beneficiaries of the organization's communications or actions.

Advertising Skills

The abilities and techniques used to effectively promote and sell products or services through various forms of media.

Interpersonal Skills

Abilities used by a person to interact effectively with others, such as communication, empathy, and conflict resolution.

Employment

The condition of having paid work; a formal relationship between an employer and an employee.