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

5. Which of these would cause a shortage in labor? * O A. the supply of workers exceeds the demand B. the demand for workers exceeds the supply O C. the number of workers equals the demand for labor O D. 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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D. Bill's Diner
5. Which of these would cause a shortage in labor? *
A. 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
O D. the supply curve for the product a business produces shifts to the left
6. If wages decreased in the labor market, what likely caused it?

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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?
Labor demand becomes more elastic as the demand for the firm’s output a. becomes more elastic b. becomes less elastic c. increases d. decreases e. is at market equilibrium
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