5. Which of these would cause a shortage in labor? * A. the supply of workers exceeds the demand B. the demand for workers exceeds the supply OC. the number of workers equals the demand for labor OD. the supply curve for the product a business produces shifts to the left

5. Which of these would cause a shortage in labor? * A. the supply of workers exceeds the demand B. the demand for workers exceeds the supply OC. the number of workers equals the demand for labor OD. the supply curve for the product a business produces shifts to the left

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 26CTQ: Why are the factors that shift the demand for a product different from the factors that shift the...

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Concept explainers

Labor Force Participation Rate analysis

The labor force participation rate analysis calculates the percentage of the working-age population either employed or actively seeking work. It can be anyone in the age category of 16 to 64, on the condition that they are not institutionalized. A high labor force participation rate shows that more people are employed and contributing their wages to the economy, making it a healthy economy. It also shows that there are more people actively looking for employment leading to more hiring options for employers. On the other hand, a low labor force participation rate shows a low number of people employed or looking for work. This leads to an economic setback with fewer wages going into the economy. In such a scenario, employers might have to cut back on profits, lay off employees, or stop the process of hiring.

Question

O C. ABC Pediatrics
D.Bill's Diner
5. Which of these would cause a shortage in labor? *
OA. the supply of workers exceeds the demand
O B. the demand for workers exceeds the supply
O C. the number of workers equals the demand for labor
OD. the supply curve for the product a business produces shifts to the left
orket
whatlikel caused it?

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