Labor supply can be defined as the

Question

Quizplus · Accepted Answer

Labor supply refers to the willingness and ability of people to work specific amounts of time at alternative wages rates in a given period of time, ceteris paribus. Choice A refers to the total number of people who are employable, which includes both employed and unemployed individuals, but does not necessarily indicate their willingness or ability to work. Choice B refers only to the total number of people in paid employment, which leaves out those who are unemployed but seeking work. Choice D refers to the labor force, which includes both employed and unemployed individuals, but does not necessarily indicate their willingness or ability to work.

Labor Supply Can Be Defined as the