An Increase in Demand Coupled with a Simultaneous and Bigger

question 19

Multiple Choice

An increase in demand coupled with a simultaneous and bigger decrease in supply will cause equilibrium

• A) price to go up and quantity to go down.
• B) price to go up and quantity to go up.
• C) price to go down and quantity to go down.
• D) price to go down and quantity to go up.

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Definitions:

Voluntary Turnover

When an employee decides to leave a company based on personal choice rather than being forced out due to layoffs or termination.

Labor Costs

Labor costs represent the total expenses incurred by employing labor, including wages, salaries, benefits, and taxes, and are a critical factor in the overall cost structure of businesses.

External Inequity

Occurs when employees perceive that their compensation or work conditions are less favorable compared to those in other organizations in the same industry or sector.

Employee Assistance Plans

Employer-sponsored programs designed to help employees deal with personal problems that might adversely impact their work performance, health, and well-being.