A Decrease in the Number of Workers Hired by a Firm

question 97

Multiple Choice

A decrease in the number of workers hired by a firm could result from

• A)an increase in the marginal product of labor.
• B)an increase in the marginal revenue product of labor.
• C)an increase in the real wage.
• D)a decrease in the real wage.

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Definitions:

Fiduciary Duty

An obligation to act in the best interest of another party, typically where a relationship of trust and confidence exists, such as between a trustee and beneficiary.

Restrictive Covenant

A clause in a contract which limits certain actions of one or both parties, often used in employment and real estate agreements to protect business interests.

Picket Line

A boundary established by workers on strike, especially at the entrance to the place of work, intended to dissuade or prevent others from entering or leaving.

Canada Labour Code

Federal legislation that regulates employment standards, labour relations, and workplace health and safety in Canada.