Multiple Choice
Suppose that the market for labor is initially in equilibrium. Suppose that workers' tastes change so that they choose to retire at age 55 rather than age 67. Then the equilibrium wage
A) and the equilibrium quantity of labor will rise.
B) and the equilibrium quantity of labor will fall.
C) will rise, and the equilibrium quantity of labor will fall.
D) will fall, and the equilibrium quantity of labor will rise.
Correct Answer:
Verified
Correct Answer:
Verified
Q142: Daryn is raking leaves to earn money
Q145: In the United States, technological advances help
Q200: If the demand for labor decreases and
Q513: Table 18-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1273/.jpg" alt="Table 18-7
Q514: Suppose that technological progress increases the productivity
Q516: When deciding whether to hire an additional
Q517: In economics, the term capital refers to<br>A)money.<br>B)stocks
Q520: The effect of the Black Death in
Q521: In order to study labor markets more
Q522: Figure 18-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1273/.jpg" alt="Figure 18-7