Table 54 Table 5-4 Shows the Demand and Supply Schedules

question 69

Multiple Choice

Table 5.4 Table 5-4 shows the demand and supply schedules for labour market in the city of Pixley.
-Refer to Table 5.4.Suppose that the quantity of labour demanded increases by 40 000 at each wage level.What are the new free market equilibrium hourly wage and the new equilibrium quantity of labour?

• A)W = $8.50; Q = 550 000
• B)W = $12.50; Q = 630 000
• C)W = $9.50; Q = 570 000
• D)W = $11.50; Q = 610 000

---

Definitions:

Elite Democracy

A model of democracy in which a small number of people, usually those who are wealthy or well-educated, influence political decision making.

Direct Democracy

A form of democracy in which people decide on policy initiatives directly, without intermediaries or representatives.

Elite Democrats

Describes the influential and high-ranking members within the Democratic Party, often involved in shaping party policies and strategies.

Expertise

The skill, knowledge, or proficiency acquired through experience or education in a particular field or subject area.