An Increase in the Price of Labor Used to Produce

question 302

Multiple Choice

An increase in the price of labor used to produce good A will lead to

• A) an increase in the market clearing price of good A.
• B) an increase in the supply of good A.
• C) a decrease in the demand for good A.
• D) an increase in the demand for good A.

---

Definitions:

Cognitive Ability Test

A type of assessment designed to measure an individual's mental capacity, including skills such as problem-solving, memory, and reasoning.

K-12

Refers to the collective years of kindergarten through twelfth grade education in the United States before college.

Weakest Reliability

Refers to the lowest level of consistency or dependability in the results or outputs of a test, measurement, or assessment tool.

Validity

The degree to which a test accurately measures what it purports to measure or the extent to which a study's conclusions can be considered true.