If Both Labor Demand and Labor Supply Fall,what Will Happen

question 13

Multiple Choice

If both labor demand and labor supply fall,what will happen to the real wage,employment,and output?

• A) The real wage will increase,real output will increase,but the effect on employment depends upon the magnitudes of the shifts.
• B) The real wage will increase,but the effects of employment and real output depend upon the magnitudes of the shifts.
• C) The real wage,employment,and real output will all decrease.
• D) Employment and real output will decrease,but the effect on the real wage depends upon the magnitudes of the shifts.
• E) The real wage,employment,and real output will all increase.

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Definitions:

Human Rights Legislation

Laws designed to protect individuals and groups from discrimination and to safeguard their fundamental human rights and freedoms.

Trade Unions

Organizations formed by workers to protect their rights, improve working conditions, negotiate wages, and address grievances with employers.

Labour Statutes

Labour statutes are laws specifically related to the rights and obligations of workers and employers, often dealing with conditions of employment, worker safety, and collective bargaining.

Unionized Employees

Workers who are members of a labor union, which represents their interests in negotiations with employers.