Which of the Following Is Likely to Lead to a Leftward

question 172

Multiple Choice

Which of the following is likely to lead to a leftward shift in the demand curve for labor in the petroleum extraction industry?

• A) An increase in the wage rate
• B) A decrease in the wage rate
• C) An increase in the price of cars
• D) An increase in the price of petroleum

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Definitions:

Economic Downturns

Periods when economic activity is declining, leading to reduced consumer spending, employment, and business investment.

Stay-at-home Parents

Denotes parents who choose to stay at home to manage the household and care for their children instead of working outside the home.

Single-parent Family

A family structure consisting of one parent living with their children due to various circumstances.

Noncustodial Parent

A parent who does not have primary legal or physical custody of their child by court order.