If the Labor Market Is in Equilibrium and Then the Labor

question 233

Multiple Choice

If the labor market is in equilibrium and then the labor supply curve shifts rightward

• A) there will be a shortage of labor at the original equilibrium wage rate.
• B) there will be a surplus of labor at the original equilibrium wage rate.
• C) the equilibrium wage rate will rise.
• D) there will be a surplus of jobs at the new equilibrium.

---

Definitions:

Adrenal Glands

Small glands located on top of each kidney, responsible for producing hormones that regulate metabolism, immune system, blood pressure, and stress responses.

Thyroid Glands

Glands located in the neck that produce hormones regulating the body's metabolism, energy level, and overall development.

Pancreas

A glandular organ in the digestive system and endocrine system of vertebrates that produces several important hormones, including insulin, and secretes pancreatic juice containing digestive enzymes that assist digestion and absorption of nutrients in the small intestine.

Hormones

Biological compounds synthesized and secreted by endocrine glands in the body that regulate physiological activities and behavioral responses.