Which of the Following Will Increase the Wage Rate

question 7

Multiple Choice

Which of the following will increase the wage rate?

• A) The price of the output produced by the workers increases.
• B) New technology increases the marginal product of labor.
• C) an increase in labor supply
• D) Both answers A and B are correct.

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Definitions:

Individual Mandate

A requirement that individuals purchase or otherwise obtain health insurance, or face penalties, aimed at expanding healthcare coverage.

Health Insurance

Insurance that reimburses the policyholder for expenses related to medical and surgical care.

Community Rating

An insurance pricing strategy which sets premiums based on the collective risk profile of a community or geographic area rather than individual risk factors, often used in healthcare insurance.

Adverse Selection

A situation in which asymmetric information leads to a selection of undesirable outcomes, such as in insurance markets.