Table 43 Table 43 Shows the Demand and Supply Schedules for the Labour

question 6

Multiple Choice

Table 4.3
$\begin{array}{|c|c|c|}\hline \begin{array}{c}\text { Hourly Wage } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Quantity of } \\\text { Labour } \\\text { Supplied }\end{array} & \begin{array}{c}\text { Quantity of } \\\text { Labour } \\\text { Demanded }\end{array} \\\hline \$ 7.50 & 530,000 & 650,000 \\\hline 8.50 & 550,000 & 630,000 \\\hline 9.50 & 570,000 & 610,000 \\\hline 10.50 & 590,000 & 590,000 \\\hline 11.50 & 610,000 & 570,000 \\\hline 12.50 & 630,000 & 550,000 \\\hline\end{array}$
Table 4.3 shows the demand and supply schedules for the labour market in the city of Oshawa.
-Refer to Table 4.3.If a minimum wage of $9.50 is mandated there will be a

• A)shortage of 20,000 units of labour.
• B)surplus of 20,000 units of labour.
• C)shortage of 40,000 units of labour.
• D)surplus of 40,000 units of labour.

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Definitions:

Central Tendency Bias

A tendency to rate all individuals or situations as average or neutral, avoiding extreme judgments in assessments.

Rating Errors

Mistakes or biases that occur when evaluating or assessing an individual's performance or attributes.

Administrative Tasks

Routine duties related to the management and execution of office functions, including paperwork, scheduling, and record keeping.

Pay Raises

Incremental increases in an employee's salary or wages, typically awarded for performance, longevity, or cost of living adjustments.