Subject - Economics:

Microeconomics

MCQ - 164-4174

Question:

The local market for bankers is currently in equilibrium. Which of the following increases the local wage paid to bankers?

Internet banking at home is becoming more popular.
More college students are majoring in finance and economics, majors that make them attractive as bank employees.
The price of banking software, a complementary resource to bankers, rises.
More college students are majoring in finance and economics, majors that make them attractive as bank employees.
The price of automatic teller machines, a substitute for bankers, decreases and the output effect is greater than the substitution effect.

Correct Answer: E

Explanation:

If the price of a substitute resource falls, labor demand can increase if the output effect is greater than the substitution effect.

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269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: The local market for bankers is currently in equilibrium. Which of the following increases the local wage paid to bankers? , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 164-4174.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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