Which of the Following Statements Is True

question 118

Multiple Choice

Which of the following statements is true?

• A) A higher wage can reduce the quantity of labor supplied.
• B) A higher wage can increase the quantity of labor demanded.
• C) A higher wage can raise profits if the productivity of workers is fixed.
• D) A higher wage can raise profits if productivity is directly proportional to wages.

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Definitions:

Cyclical Theory

Cyclical theory is the idea that certain phenomena or events recur in cycles, often used in the context of economic, social, or historical patterns.

Changing Seasons

The transition periods between the main climatic seasons (spring, summer, autumn, and winter), affecting weather patterns, ecosystems, and human activities.

Ebb and Flow

A metaphorical description of the continual fluctuation or cyclic patterns of change, resembling the movement of tides.

Differentiation

The process by which a society or social system becomes more complex by creating specialized roles and institutions.