Consider the Labor Market for Computer Programmers

question 539

Multiple Choice

Consider the labor market for computer programmers. Because of the dot.com boom in the late 1990s, a lot of workers went to school to learn how to write computer code for one of thousands of new dot.com companies. However, when these computer programming students graduated the dot.com bust took place. The dot.com bust decreased the value of the marginal product of computer programmers. Holding all else equal what effect did these two circumstances have on the equilibrium quantity in the labor market for computer programmers?

• A)The equilibrium quantity of labor increased.
• B)The equilibrium quantity of labor decreased.
• C)The equilibrium quantity of labor did not change.
• D)It is not possible to determine what happens to the equilibrium quantity of labor.

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Definitions:

Theft

The act of stealing; taking someone else's property without permission or legal right and without intending to return it.

Work-Related Behavior

Actions or activities performed by individuals that are associated with or influenced by their professional roles and responsibilities.

Job Duties

The specific tasks and responsibilities associated with a particular job position.

Globalization

The method of connecting and merging between individuals, businesses, and governmental entities across the globe, frequently marked by international economic and cultural exchanges.