The Local Labor Market for Lawn-Mowing Workers Is Initially in Equilibrium.These

question 2

Multiple Choice

The local labor market for lawn-mowing workers is initially in equilibrium.These workers are also able to clean swimming pools and have no preference for one job over the other.If the wage rate for pool cleaning rises,which of the following would occur in the lawn-mowing labor market?

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

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Definitions:

Tenancy in Common

A form of joint ownership or tenancy where each owner holds an individual, undivided interest in the property, and such interests can be of different sizes.

Joint Tenancy

A form of co-ownership of property where two or more individuals hold equal shares, and upon the death of one tenant, their share automatically passes to the surviving tenant(s).

Common Law

A system of law developed from court-made precedents rather than statutes passed by legislatures.

Ambiguous

Something that is unclear, uncertain, or capable of being understood in more than one way.