A Local Labor Market for Lawn-Mowing Workers Is Initially in Equilibrium.If

question 43

Multiple Choice

A local labor market for lawn-mowing workers is initially in equilibrium.If researchers develop a new inexpensive grass seed that provides a lush,slow-growing lawn,which of the following will occur in the short run?

• A)Both labor demand and labor supply will drop,leading to a higher wage rate but lower employment.
• B)Both labor demand and labor supply will rise,leading to a lower wage rate and lower employment.
• C)Labor demand will drop,leading to a lower wage rate and higher employment.
• D)Labor supply will drop,leading to a higher wage rate and lower employment.
• E)Labor demand will drop,leading to a lower wage rate and lower employment.

---

Definitions:

System Of Meaning

A framework or structure that assigns interpretations and significances to symbols, actions, and phenomena within a particular context or culture.

Ideology

A system of ideas and ideals, especially one that forms the basis of economic or political theory and policy.

Value Judgments

Assessments or opinions about the worth, desirability, or importance of something based on personal values or societal standards.

Oppositional Cultural Forms

Cultural expressions that challenge, critique, or seek to change mainstream or dominant cultural norms and values.