Asked by
Zachary Coker
on Nov 26, 2024
Verified
Which of the following increases in labor demand is due to a change in the product demand?
A) Access to computers increases the productivity of mail order businesses, thus increasing the demand for their workers.
B) Tourism increases in popularity, increasing the demand for workers at tourist resorts.
C) A decrease in the price of trucks decreases the cost of transporting goods, thus increasing the demand for truckers.
D) A change in work rules increases output per worker in the auto industry, thus increasing the demand for autoworkers.
Product Demand
The total amount of a product or service that consumers are willing and able to purchase at a given price level.
Labor Demand
The quantity of labor that employers are willing to hire at a given wage rate.
Work Rules
Formal regulations or policies dictating the conditions and behaviors allowed in a workplace.
- Recognize the role of product demand in influencing labor demand.
Verified Answer
MR
Learning Objectives
- Recognize the role of product demand in influencing labor demand.