​Figure 53

question 11

Multiple Choice

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-Refer to figure 5.3. Which of the following is a possible outcome of a fall in the wage rate from $6 to $4?​

• A)​There will be an increase in both, the supply of and the demand for labor.
• B)​There will be a fall in the supply of labor and an increase in the demand for labor.
• C)​There will be a fall in the demand for labor and an increase in the supply of labor.
• D)​There will be a shift in the equilibrium point.
• E)​There will be a fall in both the supply of and the demand for labor.

---

Definitions:

Rule of Competence

A principle stating that legal professionals must possess the necessary skills and knowledge to effectively represent their clients.

Client Confidentiality

The ethical principle or legal requirement that obliges professionals not to divulge information about their clients to third parties without the client's consent.

Nonlawyer Assistants

Individuals who assist lawyers in their legal work but are not licensed to practice law themselves.

State Bar

A professional body that regulates the practice of law in a specific state, often responsible for licensing attorneys.