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Suppose That Wages in the Automobile Industry Increase

question 286

Multiple Choice

Suppose that wages in the automobile industry increase. The labor supply curve for other types of manufacturing jobs should shift ____, and the number of workers available at any given wage rate will _____.


Definitions:

Homogeneity of Tastes

A market condition where consumers have similar preferences or desires for products and services.

Corporate Culture

The shared values, beliefs, and practices that inform the way people within an organization interact and work.

Global Scale

Operating or considering operations and impacts over large geographic areas, often worldwide.

World Market

A global arena for the exchange of goods, services, and financial instruments among countries.

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