When Labor Supply Is Less Than Labor Demand Which of the Following

question 2

Multiple Choice

When labor supply is less than labor demand which of the following is True?

• A) Less money is needed to recruit.
• B) Wages can remain unchanged.
• C) The labor market is considered loose.
• D) Wages are generally increased.
• E) This is considered an ideal scenario for employers.

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Definitions:

Retailing

The process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.

Strikes

A work stoppage caused by the mass refusal of employees to work, typically to protest against terms of employment or working conditions.

Collective Bargaining

The process by which workers, through their unions, negotiate contracts with their employers to determine their terms of employment.

Economic Disruptions

Events or activities that cause significant changes or interruptions to the normal flow of economic activity.