Asked by
Shupeng Hu (student)
on Oct 26, 2024
Verified
Suppose the labor market for plumbers is in equilibrium.Which occurrence might DECREASE the wage for plumbers?
A) An economic boom increases the demand for new homes.
B) The plumbers union establishes a rigorous certification test that is difficult for aspiring plumbers to pass.
C) Unemployed manufacturing workers attend technical schools to learn the plumbing trade.
D) A minimum wage is imposed in the market for plumbers.
Labor Market
The marketplace where employers find workers and workers find jobs, characterized by the supply and demand for labor.
Plumbers
Skilled tradespeople who install, maintain, and repair water, gas, and other piping systems in homes and businesses.
- Identify factors leading to shifts in labor demand in specific markets.
Verified Answer
MH
Learning Objectives
- Identify factors leading to shifts in labor demand in specific markets.