Growth in employment can result from either an increase in labor supply or an increase in labor demand.

Question

Quizplus · Accepted Answer

Growth in employment can occur when there is an increase in the supply of labor, such as a growing population or an increase in the participation rate. It can also happen when there is an increase in demand for labor, such as when businesses expand and hire more workers or when there is an economic boom. Therefore, both factors can contribute to employment growth.

Growth in Employment Can Result from Either an Increase in Labor