-Refer to the Above Graph to Answer This Question

question 148

Multiple Choice

-Refer to the above graph to answer this question.What could cause the movement from point B to point C?

• A)An increase in the demand.
• B)A decrease in the price.
• C)A decrease in prices of resources.
• D)An increase in the price of a substitute product.
• E)An increase in the price of a complementary product.

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Definitions:

Employment

Employment is a contractual relationship between an employer and an employee where the employee provides labor or services in exchange for compensation.

Payroll Tax

Contributions demanded from employers or their staff, often pegged to a percentage of the paychecks disbursed to employees.

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.

Payroll Tax

A tax imposed on employers or employees, and is usually calculated as a percentage of the salaries that employers pay their staff.