When the Price of an Hour of Tutoring Increases

question 38

Multiple Choice

When the price of an hour of tutoring increases,

• A) the demand for tutoring decreases.
• B) the demand for tutoring increases.
• C) the demand curve for tutoring shifts.
• D) the quantity demanded for tutoring increases.
• E) the quantity demanded for tutoring decreases.

Differentiate between major-specific job market outcomes during economic fluctuations.

Identify factors contributing to market efficiency.

Calculate the opportunity cost related to personal decisions and economic transactions.

Relate the concept of opportunity cost to production and service outsourcing decisions.

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Definitions:

National Labor Relations Board

An independent US government agency charged with enforcing US labor law in relation to collective bargaining and unfair labor practices.

Certification Election

A process supervised by a regulatory body that allows employees to vote on whether or not they wish to be represented by a labor union.

Landrum-Griffin Act

The Landrum-Griffin Act, formally known as the Labor-Management Reporting and Disclosure Act of 1959, is a U.S. law that aims to protect union members' rights and promote labor democracy through regulating union administration.

National Labor Unions

Federations or organizations that represent the collective interests of workers across various sectors at the national level.