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:

Alleles

Different forms of a gene that arise by mutation and are found at the same place on a chromosome, influencing the development of different traits or characteristics in an organism.

Mendel's Law

Principles established by Gregor Mendel defining the inheritance patterns of traits through generations, including the law of segregation and independent assortment.

Independent Assortment

A principle of genetics stating that genes for different traits are separated into gametes independently of each other during meiosis.

Segregation

The act of separating or setting apart from others; can refer to the separation of substances or to discriminatory practices based on race or other factors.