Multiple Choice
Other things remaining the same,which of the following is likely to happen if the price of cars decreases?
A) Both the wage rate and the employment level will decrease in the petroleum extraction industry.
B) The wage rate will increase and the employment level will decrease in the petroleum extraction industry.
C) The wage rate will decrease and the employment level will increase in the petroleum extraction industry.
D) Both the wage rate and the employment level will increase in the petroleum extraction industry.
Correct Answer:
Verified
Correct Answer:
Verified
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