When a Labor Market Experiences a Surplus of Labor, There

question 61

Multiple Choice

When a labor market experiences a surplus of labor, there is downward pressure on

• A)the supply of labor.
• B)the final product price.
• C)wages.
• D)the demand for labor.

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Definitions:

Wendell Willkie

An American lawyer and corporate executive who ran as the Republican presidential candidate against Franklin D. Roosevelt in 1940, advocating for liberal principles.

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The leader of Nazi Germany from 1933 to 1945, whose regime was responsible for the outbreak of World War II and the atrocities of the Holocaust.

Lame Duck Amendment

The 20th Amendment to the U.S. Constitution, which shortened the period between the election and inauguration days to reduce the power of outgoing officials.

Bricker Amendment

A proposed amendment to the U.S. Constitution in the 1950s aimed at limiting the president's power to enter into treaties and executive agreements without Senate approval.