If, at a Particular Wage Rate in a Competitive Market

question 68

Multiple Choice

If, at a particular wage rate in a competitive market, the quantity supplied of labor exceeds the quantity demanded of labor, then

• A)the supply curve will shift to the left, the demand curve will shift to the right, and the surplus of labor will be eliminated.
• B)since wages are so high, the quantity supplied of workers will increase further, and the quantity demanded will decrease further.
• C)some workers will begin to accept lower wages and, as a result, employers will begin to hire more workers.
• D)the supply curve will shift to the right, the demand curve will shift to the left, and the shortage of labor will be eliminated.

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Definitions:

Pointer Variable

A variable designed to hold the memory address of a different variable.

Expression

A combination of variables, operators, and values that produces a result when evaluated.

NumPtr

A pointer variable, often used in programming to reference the memory location of a number.

Initialized

Refers to the process of assigning an initial value to a variable or object at the time of its creation in programming.