Holding All Other Influences Constant,the Quantity of Labor Supplied in a Given

question 245

Multiple Choice

Holding all other influences constant,the quantity of labor supplied in a given time period depends

• A)inversely on the real wage rate so that a higher real wage decreases the quantity of labor supplied.
• B)directly on the real wage rate so that a higher real wage increases the quantity of labor supplied.
• C)inversely on the quantity of labor demanded.
• D)on the money wage rate not the real wage rate.
• E)directly on the quantity of labor demanded.

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Definitions:

Sales

The total amount of money generated from selling goods or services.

Degree of Operating Leverage

A ratio that measures the sensitivity of a company's operating income to a percentage change in revenue.

High-low Method

A technique used in accounting and finance to estimate variable and fixed components of a cost based on the highest and lowest activity levels.

Cost Analysis

The process of assessing the costs involved in carrying out a particular business activity or project.