Which of the Following Events Will Cause a Surplus of Workers

question 4

Multiple Choice

Which of the following events will cause a surplus of workers?

• A) a wage above the market-clearing wage
• B) an increase in the supply of workers
• C) a decrease in the demand for workers
• D) more workers wanting to work at higher wages

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Definitions:

Microeconomics

The branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, market equilibriums, and the effect of government regulations.

Individual Industries

Specific sectors of the economy focused on the production of certain types of goods or services.

Decision-Making Units

Groups or individuals within an organization that have the authority and responsibility to make choices that affect organizational outcomes.

Positive Economics

An approach to economics that seeks to understand behavior and the operation of systems without making judgments. It describes what exists and how it works.