Which of the Following Can Bring About an Increase in the Demand

question 73

Multiple Choice

Which of the following can bring about an increase in the demand for labor?

• A)an increase in the demand for the product that labor produces
• B)a decrease in the marginal physical product of labor
• C)a decrease in the price of labor (wage rate)
• D)an increase in the price of labor (wage rate)

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Definitions:

Postindustrial Societies

Societies marked by a transition from a manufacturing-based economy to a service-based economy, emphasizing information and services over industrial production.

Information Management

The process of collecting, storing, managing, and distributing information in a systematic and controllable manner.

Fads

Short-lived trends or craze that gain rapid popularity and fade away just as quickly, often without leaving a lasting impact on society.

Social Change

The alteration in societal structures and norms over time, which may result from cultural, economic, or political influences.