The Quantity of Labor Supplied Increases as the Real Wage

question 303

Multiple Choice

The quantity of labor supplied increases as the real wage rises because

• A)higher real wages mean that nominal wages have increased.
• B)the opportunity cost of working increases.
• C)the quantity of labor demanded increases.
• D)the opportunity cost of leisure rises.
• E)labor force participation decreases so that only serious workers are left in the labor force.

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Definitions:

Elimination Reaction

A chemical reaction in which elements of the reactant are "eliminated" and a double bond is formed, common in organic chemistry.

Alkene Products

Compounds that are produced through chemical reactions involving alkenes, which are hydrocarbons with double bonds.

Predominate

To hold major influence or to have the greatest importance, presence, or authority among a group or within a context.

Major Product

The primary outcome of a chemical reaction, which is produced in greater amount compared to any other products.