The supply of labor curve

Name: The supply of labor curve
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Question

Quizplus · Accepted Answer

The supply of labor curve shows how much labor workers are willing to supply at various real wage rates. As real wage rates increase, workers are more likely to enter the workforce or work longer hours, resulting in an upward-sloping supply curve. Conversely, if real wage rates decline, workers are more likely to exit the workforce or work fewer hours, resulting in a downward-sloping supply curve. Therefore, choice D is the correct answer.

The Supply of Labor Curve