Assuming All Else Equal,if the Labor Demand Curve Shifts to the Left

question 158

Multiple Choice

Assuming all else equal,if the labor demand curve shifts to the left and the labor supply curve remains unchanged,________.

• A) the equilibrium wage rises
• B) the equilibrium wage falls
• C) unemployment rises
• D) the marginal product of labor rises

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Definitions:

Payroll Checks

Payroll checks are written documents issued by an employer to pay an employee for services rendered.

Special Bank Account

A bank account designated for a specific purpose or to handle particular types of transactions, separate from general accounts.

Maturity Value

The amount payable to the holder of a financial instrument at its maturity date.

Note Payable

A written promise to pay a certain amount of money, typically including interest, by a certain date; a form of credit or loan.