People base their labor supply on the_________ because they care about ________.

Name: People base their labor supply on the_________ because they care about ________.
Brand: Quizplus
Rating: 5.0 (63 reviews)

Question

Quizplus · Accepted Answer

People are more likely to base their labor supply on the real wage because they are concerned with what their earnings will actually buy in terms of purchasing power. The money wage, while important, does not necessarily reflect the true value of their earnings in terms of what goods and services they can afford.

People Base Their Labor Supply on The_________ Because They Care