The Figure Given Below Shows the Demand Curves (D₁ and D₂)and

question 31

Multiple Choice

The figure given below shows the demand curves (D₁ and D₂) and supply curves (S₁ and S₂) of labor in the labor market. Figure: 29.2 According to Figure 29.2, assume that the market is in an initial equilibrium in which the labor supply is S₁ and the labor demand is D₁.Then labor supply shifts from S₁ to S₂ but the wage remains at its previous equilibrium level.Which of the following is true?

• A)The economy is still in equilibrium.
• B)There is a shortage of 20 workers.
• C)There is a shortage of 30 workers.
• D)There is a surplus of 30 workers.
• E)There is a surplus of 20 workers.

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Definitions:

Ethical

Relating to morals, it describes actions or behaviors that are considered right, fair, and in accordance with accepted principles of conduct.

Women

Refers to the adult female human beings, but in many contexts, it pertains to issues specifically related to their rights, representation, and experiences in society.

Men

In the context of workforce discussions, this usually pertains to the male segment of employees or population in consideration.

Equally Ethical

A principle emphasizing that ethical considerations should be consistently applied across all situations and parties involved.