Which of the Following Summarizes the Impact of Population Growth

question 109

Multiple Choice

Which of the following summarizes the impact of population growth on the labor market?

• A)This will increase the labor supply, reduce the equilibrium wage and increase the quantity of labor demanded.
• B)There will be an increase in the demand for labor. As a result, the wage rate will rise and the quantity of workers supplied will decrease.
• C)There will be an increase in the demand for jobs. This will result in an increase in the equilibrium wage rate and a movement along the labor supply curve.
• D)There will be an increase in both the demand for labor and the supply of labor. As a result, the equilibrium wage will not change.

Understand the motivating components and personal support within organizational behavior.

Relate happiness, physical health, and career success.

Analyze the impact of attitude, such as negativity and cynicism, on job performance.

Acknowledge the significance of self-esteem and belief in life’s meaning to personal happiness.

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Definitions:

Utility Function

A mathematical representation of how different bundles of goods or services are ranked according to their utility or satisfaction to a consumer.

Paasche Price Index

A measure of price level changes over time that uses the current period's quantities as weights.

Doggerel

A comic verse of irregular measure, often characterized by crudeness, triviality, or poor quality.

Utility Function

A mathematical model in economics that represents a consumer's preference ordering over a set of goods or services.