The Price for a Unit of Labor Is the Wage

question 167

Multiple Choice

The price for a unit of labor is the wage rate.What happens to the quantity of labor demanded if the wage rate increases?

• A)It increases.
• B)It decreases.
• C)It does not change.
• D)The outcome depends upon the supply of the good.

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Definitions:

Active Listening Skills

The ability to fully concentrate, understand, respond to, and remember what is being said in conversation.

Communication Tool

A medium or instrument that facilitates the exchange of information or messages between individuals or groups.

E-mail

A system for sending messages from one individual to another via telecommunications links between computers or mobile devices.

Effective Listening

The practice of actively paying attention, understanding, remembering, interpreting, evaluating, and responding to what is being said.