The Market Wage of Computer Programmers Is Determined By

question 125

Multiple Choice

The market wage of computer programmers is determined by:

• A) the demand for labor.
• B) an upward sloping supply curve of labor and a downward sloping demand curve for labor.
• C) a downward sloping demand and supply curve of labor.
• D) the marginal product of labor and demand curve for labor.

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Definitions:

Productive Demand

The demand for goods and services that are needed to produce other goods and services.

Average Real Hourly Earnings

The inflation-adjusted earnings of workers per hour, reflecting their purchasing power over time.

Rate of Inflation

The percentage increase in the general price level of goods and services in an economy over a period of time.

Annual Earnings

The total amount of money earned by an individual or entity in one year, before deductions such as taxes.