An Increase in the Population and Hence the Supply of Labor

question 13

Multiple Choice

An increase in the population and hence the supply of labor causes a

• A) shortage of labor at the original real wage rate and the real wage rate will fall.
• B) surplus of labor at the original real wage rate and the real wage rate will rise.
• C) surplus of labor at the original real wage rate and the real wage rate will fall.
• D) shortage of labor at the original real wage rate and the real wage rate will rise.

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Definitions:

Listening Responses

The ways in which a listener communicates their attention, understanding, and empathy to the speaker.

Summarizing

The process of concisely restating the main points of information or a conversation.

Paraphrasing

The act of rephrasing or rewording someone else's text or speech to clarify meaning or to make it easier to understand, while maintaining the original message.

Clarification

The process of seeking or providing explanation or additional information to make something clear or understandable.