If the Labour Supply Is Unchanged, an Increase in the Demand

question 220

Multiple Choice

If the labour supply is unchanged, an increase in the demand for labour will

• A)increase the equilibrium wage and decrease the number of workers employed.
• B)increase the equilibrium wage and increase the quantity of jobs demanded.
• C)decrease the equilibrium wage and increase the number of workers employed.
• D)increase the equilibrium wage and increase the number of workers employed.

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Definitions:

Logistic Regression

A statistical method used for predicting a binary outcome from one or more predictor variables, modeling the probability of occurrence of an event.

Lactic Acid

A chemical compound produced in the muscles during intense physical activity and responsible for the sensation of muscle soreness.

Multiple Logistic Regression

A statistical technique used to model the probability of a certain class or event existing such as pass/fail, win/lose, alive/dead, based on multiple independent variables.

Explanatory Variables

Variables in a statistical model that are manipulated or chosen to determine their effect on the response variables of interest.