As the Wage Rate Increases,the Quantity Supplied of Labor in a Market

question 37

Multiple Choice

As the wage rate increases,the quantity supplied of labor in a market will:

• A)invariably increase
• B)invariably decrease.
• C)first increase and then decrease.
• D)first decrease and then increase.
• E)remain constant.

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Definitions:

Determinism

The theory that all events, including human behavior, are ultimately determined by causes external to the will; some philosophers argue that this implies the absence of free will.

Free Will

The concept that humans are capable of making choices independent of external forces or predestination.

Predictable

Capable of being forecasted with a high degree of accuracy; the quality of being known before it happens.

Determinism

The philosophical doctrine that all events, including human action, are ultimately determined by causes external to the will.