Which of the Following Statements Is False

question 107

Multiple Choice

Which of the following statements is false?

• A) It is likely that supply curves for labor in individual labor markets are upward sloping.
• B) As wages in one industry rise relative to wages in other industries, workers shift their labor to the relatively high-wage one.
• C) The mobility of labor between competitive labor markets is likely to prevent the total number of hours worked from falling as the wage rate increases.
• D) Workers in one industry seldom pay attention to the wage rate(s) in other industries or labor markets.

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Definitions:

Overallocation

The process of assigning more resources to a project or sector than is available or sustainable, leading to inefficiencies.

Underallocation

A situation where resources are not distributed efficiently, resulting in potential benefits not being fully realized.

Technological Progress

The advancement of technology, leading to improved methods for producing goods and services, enhancing efficiency, and driving economic growth.

Temporary Worker

An individual employed on a non-permanent basis, typically to address seasonal, temporary, or part-time staffing needs of an employer.