Demand for Workers in Some Industry Declines

question 37

Multiple Choice

Demand for workers in some industry declines.These workers are reluctant to have a cut in their nominal wage.However,

• A)inflation will raise their real wage and so increase the number of available workers.
• B)inflation will raise their real wage and so decrease the number of available workers
• C)inflation will reduce their real wage and so increase the number of available workers.
• D)inflation will reduce their real wage and so decrease the number of available workers.

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Definitions:

Earlier Periods

Times or epochs in the past, before the current era or period of time.

Emotional Pain

A psychological state of suffering and distress caused by traumatic or stressful experiences, often manifesting as sadness, anxiety, or guilt.

Primary Function

The most important or basic purpose of an object, system, or organization.

Risk-Taking Behaviors

Actions that involve exposure to danger or potential harm, but are undertaken for potential reward.