The Demand Curve for Labour Will Shift Leftward as a Result

question 50

Multiple Choice

The demand curve for labour will shift leftward as a result of

• A)a decrease in the wage rate.
• B)an increase in the wage rate.
• C)a decrease in the price of a substitute factor of production.
• D)an increase in the price of a substitute factor of production.
• E)an increase in the price of the firm's output.

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Definitions:

Government Securities

Government securities are investment products issued by the government to finance its expenditures, offering a return to the investors.

Devaluation

The reduction of the value of a country's currency relative to other currencies, often by the government's decision, affecting international trade and economic balance.

Currency's Value

The worth of a country's currency in terms of the amount of goods or services that one unit of the currency can buy.

Fixed Standard

Refers to a set benchmark or criterion that remains constant over time and is used for comparison or evaluation purposes.