Suppose the Wage Rate in the Labor Market Is $15

question 210

Multiple Choice

Suppose the wage rate in the labor market is $15 and the productivity of workers increases, which of the following statements is incorrect?

• A) The labor demand curve shifts to the right.
• B) If wages are flexible, there will be an increase in wages.
• C) If wages are sticky, there will be a shortage in the labor market.
• D) If wages are sticky, there will be a surplus in the labor market.

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Definitions:

Leaders And Followers

Refers to the dynamic between individuals who guide or direct groups or organizations and those who support and implement the leaders' directives.

Adaptive Leader Behavior

Describes the ability of leaders to adjust their leadership style and strategies based on the changing environment or needs of their team.

Engaged

Being actively involved, committed, and interested in a particular activity or cause.

Big Picture

An inclusive overview or perspective that takes all relevant aspects into consideration, often used to emphasize understanding beyond immediate details.