Which of the following is not a characteristic of the market labor supply curve?
A) It is always upward sloping.
B) It reflects people's willingness to work more when wages are higher.
C) It shows the relationship between the price of labor and the quantity of labor supplied.
D) It shifts with changes in the opportunity cost for work.
Correct Answer:
Verified
Q61: The labor supply price effect describes the
Q62: The market labor supply curve is typically:
A)upward
Q63: A decrease in the quantity of labor
Q64: If the income effect outweighs the price
Q65: Labor supply will decrease when wages increase
Q67: The labor supply income effect describes the
Q68: Which of the following would be considered
Q69: If the price effect outweighs the income
Q70: In general, as wages go up:
A)people are
Q71: Which of the following would not be
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents