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Question
Macroeconomics
Posted 5 months ago
Which of the following leads to an increase in wages and employment in the labor market?
Choose 1 answer:
(A) a decrease in the tastes and preferences for the good that labor produces
(B) a decrease in the supply of labor
(C) an increase in the supply of labor
(D) an increase in the price of a good that is a complement to the good that labor produces
(E) an increase in the demand for the good that labor produces
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Answer from Sia
Posted 5 months ago
E
Key Concept
Demand for Labor
Explanation
An increase in the demand for the good that labor produces typically leads to higher employment and wages in the labor market, as firms require more labor to increase production to meet the higher demand
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