Refer to the Scenario Above

question 160

Multiple Choice

Refer to the scenario above.Suppose we know that the number of women working increased,as did the market wage earned by women.These facts are consistent with ________.

• A) labor demand decreasing
• B) labor demand increasing
• C) labor supply increasing
• D) labor supply decreasing

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Definitions:

Expected Price Level

The anticipation or forecast of future prices in the economy, influencing consumers' and investors' decisions.

Long-Term Contracts

Agreements between parties for the supply of goods, services, or employment that extend over a long period.

Quantity of Output

Relates to the total amount of goods or services produced by a firm, industry, or economy within a specific time period.

Expected Price Level

The anticipation or forecast of the average level of prices of goods and services in the economy in the future.