If Wages for a Certain Type of Labor Were Higher

question 51

Multiple Choice

If wages for a certain type of labor were higher in one market than in another,then

• A) the differential would exist into the long run.
• B) labor would move from the high wage market to the low wage market until wages were equal.
• C) labor would move from the low wage market to the high wage market until wages were equal.
• D) firms would not be acting as profit maximizers.

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Definitions:

Centimeters

A unit of length in the metric system, equivalent to one hundredth of a meter.

Inches

A unit of length in the imperial and US customary systems, equivalent to 1/12th of a foot.

Dimensional-analysis

A technique utilized for converting measurements by applying the fundamental properties of dimensions associated with the variables involved.

Centimeters

A unit of length in the metric system, equal to one hundredth of a meter, commonly used to measure small distances.