Suppose the Wage Rate in a Certain Industry Falls, and Firms

question 182

Multiple Choice

Suppose the wage rate in a certain industry falls, and firms hire more workers. The best explanation of this is that labor

• A) demand fell.
• B) demand increased.
• C) supply fell.
• D) supply increased.

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Definitions:

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Thoughts deemed morally wrong or offensive according to religious or ethical standards.

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The physical and cultural setting characteristic of cities and towns, often marked by higher population density and infrastructure complexity.