For Any Competitive Labor Market,changes That Decrease the Number of Workers

question 136

Multiple Choice

For any competitive labor market,changes that decrease the number of workers will:

• A) decrease the labor supply and shift the supply curve left.
• B) increase the labor supply and shift the supply curve right.
• C) decrease the labor supply and shift the supply curve right.
• D) increase the labor supply and shift the supply curve left.

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Definitions:

Infrastructure

Infrastructure refers to the fundamental physical and organizational structures and facilities required for the operation of a society or enterprise, such as roads, water supply, and power grids.

Silicon

A chemical element, often used as a semiconductor in electronics and solar cells, as well as in the production of silicone rubbers and lubricants.

Globalization Of Production

The sourcing of land, labor, and capital from different nations rather than obtaining everything locally.

Outsourcing

The business practice of hiring a party outside a company to perform services and create goods traditionally performed in-house by the company's own employees and staff.