Suppose the Market for Autoworkers Is Initially in Equilibrium, but Then

question 110

Multiple Choice

Suppose the market for autoworkers is initially in equilibrium, but then suppose the automakers improve working conditions at the plants. What happens in the market for autoworkers?

• A) The equilibrium wage rate will increase and the equilibrium quantity of labor will decrease.
• B) The equilibrium wage rate and the equilibrium quantity of labor will both increase.
• C) The equilibrium wage rate and the equilibrium quantity of labor will both decrease.
• D) The equilibrium wage rate will decrease and the equilibrium quantity of labor will increase.

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Definitions:

Thallium(I) Nitrate

A chemical compound with the formula TlNO3, used in various applications including synthesis and manufacturing.

Reseal Coke Bottles

The act or technology that allows carbonated drink, like Coca-Cola, bottles to be tightly closed after opening to maintain carbonation and prevent spillage.

Greenhouse Gas

Gases in Earth's atmosphere that trap heat, such as carbon dioxide, methane, and water vapor, contributing to the greenhouse effect.

Carbon Dioxide

A transparent, unscented gas formed by the burning of organic substances and carbon, also released during breathing, and absorbed by plants in the photosynthesis process.