Microeconomics

MCQ - 94-4104

Question:

In a competitive labor market for housepainters, which of the following would increase the demand for housepainters?

An effective minimum wage imposed on this labor market.
An increase in the price of gallons of paint.
An increase in the construction of new houses.
An increase in the price of gallons of paint.
An increase in home mortgage interest rates.

Correct Answer: C

Explanation:

This is the idea of derived demand.

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

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