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Which of the Following Is TRUE Regarding the Labor Market

question 160

Multiple Choice

Which of the following is TRUE regarding the labor market?
I. The labor supply curve slopes upward because firms maximize profits as they hire more workers.
II. If the real wage rate falls, the quantity of labor firms demand increases.
III. The demand for labor curve slopes downward because as the real wage rate falls, workers demand to work fewer hours.


Definitions:

Pessimistic View

A tendency to see the worst aspect of things or believe that the worst will happen; a lack of hope or confidence in the future.

Organizational Citizenship

Voluntary behaviors exhibited by employees that contribute to the overall effectiveness and environment of an organization, beyond their required duties.

Organizational Citizenship

Voluntary behaviors exhibited by employees that contribute to organizational well-being beyond their required duties.

Perceptions

The process by which individuals organize and interpret their sensory impressions to give meaning to their environment.

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