Which of the Following Statements Is True About Labor Markets

Multiple Choice

Which of the following statements is true about labor markets?

A) Organizations compete to sell labor in the labor market.
B) Competition for labor establishes the minimum an organization must pay to hire an employee for a particular job.
C) Changes in the CPI do not affect the labor market.
D) Cost-of-living considerations have little impact on labor-market rates.
E) An organization's competitors in labor markets only include companies with different products.