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What happens when the demand for labor is greater than supply?
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
What is something that can be bought and sold called?
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
Which of the following can affect the level of wages for a particular job?
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
Income may be determined by which of the following?
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
Which of the following does NOT affect the level of wages for a particular job.
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
What is a commodity in the view of producers?
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
Which term is the compensation an employer gives to workers in exchange for the time, energy, and skill it requires to perform a job?
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
What happens when there is a surplus of labor?
Wages decline
wage
commodity
labor
GDP
skills and abilities
There is a shortage of laborers and wages go up
amount of output
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