Holding Other Factors Constant, If a Larger Proportion of the Population

question 74

Multiple Choice

Holding other factors constant, if a larger proportion of the population enters the labor force as a result of a growing social acceptance of women working, then the real wages of workers will ______ and employment of workers will _____.

• A)increase; increase
• B)increase; decrease
• C)decrease; not change
• D)decrease; increase

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the accounts.

Ledger

A comprehensive collection of all accounts and transactions of a company or individual, recorded in a systematic manner.

Account Balance

The amount of money in a financial repository at any given moment, which can fluctuate with deposits, withdrawals, and interest payments.

Chart of Accounts

An organized list of all the different financial accounts used by an entity to categorize transactions.