Figure 18-4 -Refer to Figure 18-4.Which Factor Could Possibly Explain the Shift

question 150

Multiple Choice

Figure 18-4

-Refer to Figure 18-4.Which factor could possibly explain the shift of the labour demand curve from D₁ to D₂

• A)a change in workers' attitudes toward the work-leisure tradeoff
• B)decreases in wages in other labour markets
• C)an increase in the price of firms' output
• D)new technology that replaces workers

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Definitions:

Productivity

measures how efficiently goods and services are produced by comparing the amount of outputs generated to the inputs used.

Steel Mill

An industrial plant for the manufacture of steel, involving processes like smelting and refining of iron and steel.

Human Relations

The study and management of how people interact in professional settings to promote understanding and effective workplace dynamics.

Manager

An individual responsible for controlling or administering an organization or group of staff.