If a Number of New Workers Enter the Labor Force

question 38

Multiple Choice

If a number of new workers enter the labor force and all of them find jobs at the mean level of wages,then this will cause the variance of wages to

• A) increase.
• B) decrease.
• C) remain unchanged.
• D) either increase or decrease.

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Definitions:

Tampa Electric Co.

Tampa Electric Company is an energy company providing electricity to the Tampa Bay area and other parts of Florida.

Robinson-Patman Act

A law at the federal level within the United States designed to prevent producers from conducting business in a way that undermines competitive fairness, with a specific focus on prohibiting price discrimination.

Minimum Price Schedule

A regulatory tool or policy setting the lowest price at which goods or services can be legally sold, often used in agricultural markets or with alcohol sales.

Conglomerate

A large corporation composed of diverse and independent industry sectors or companies under a single corporate group.