If the Number of Available Workers of a Particular Type

question 51

Multiple Choice

If the number of available workers of a particular type increases,which of the following shifts should occur in the labor market for the particular type of labor?

• A)Demand for labor should shift to the left.
• B)Supply of labor should shift to the left.
• C)Demand for labor should shift to the right.
• D)Supply of labor should shift to the right.

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Definitions:

Bill Received

An invoice or statement listing goods provided or services rendered, indicating the amount due for payment.

Expense Recognition Principle

An accounting principle that states expenses should be recognized in the same period as the revenues they helped to generate, ensuring financial statements accurately reflect business performance.

Expenses

The costs incurred by a business in the process of earning revenue, including operations, maintenance, and administrative costs.

Revenues

The total income generated from normal business operations and other activities, before any expenses are subtracted.