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Income may be determined by which of the following?
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
There is a shortage of laborers and wages go up
amount of output
What happens when the demand for labor is greater than supply?
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
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?
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
There is a shortage of laborers and wages go up
amount of output
What is something that can be bought and sold called?
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
There is a shortage of laborers and wages go up
amount of output
What happens when there is a surplus of labor?
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
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?
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
There is a shortage of laborers and wages go up
amount of output
Which term is described by the labor that nearly any able-bodied person could perform with minimum skill or training.
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
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.
GDP
skills and abilities
commodity
Wages decline
Unskilled Labor
wage
There is a shortage of laborers and wages go up
amount of output
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