Which of the Following Statements Is True About Labor Markets

question 78

Multiple Choice

Which of the following statements is true about labor markets?

• A) Organizations compete to sell labor in the labor market.
• B) Competition for labor establishes the minimum an organization must pay to hire an employee for a particular job.
• C) Changes in the CPI do not affect the labor market.
• D) Cost-of-living considerations have little impact on labor-market rates.
• E) An organization's competitors in labor markets only include companies with different products.

---

Definitions:

ROM

Read-Only Memory, a type of non-volatile storage media that is programmed with data that cannot be modified, or that can only be modified slowly or with difficulty.

Cache Memory

A small-sized type of volatile computer memory that provides high-speed data access to the processor and stores frequently used computer programs, applications, and data.

Boot

The process of starting up a computer from a powered-down or off state, involving the loading and initialization of the operating system.

Innovation

The process of creating new ideas, products, or methods, often leading to improvements or significant changes in a particular field.