Use the Following Figure to Answer the Question : Figure

question 55

Multiple Choice

Use the following figure to answer the question : Figure 18-1 :
shows the demand and supply of unskilled labor that determines the equilibrium wage rate in the labor market.The minimum wage rate at $5.15 is higher than the equilibrium wage rate at $4.
-Refer to Figure 18-1.The increase in the number of workers looking for work in this market due to the imposition of a $5.15 minimum wage is _____.

• A)L₁L₃
• B)L₂L₃
• C)OL₁
• D)L₂L₁

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Definitions:

Job Security

The assurance or likelihood of continued employment and stability in one's job, often influenced by economic conditions and company performance.

Motivation Theories

A set of theories that aim to explain what drives individuals to initiate, direct, and sustain behaviors and actions to achieve certain goals.

Purposeful Behavior

Actions that are directed towards achieving specific, intentional goals or outcomes.

Physiologically Satisfied

A state in which physical or biological needs are fulfilled, leading to a sense of contentment and well-being.