Solved

Figure 18-8 This Figure Below Shows the Labor Market for Automobile Workers

Question 287

Multiple Choice

Figure 18-8
This figure below shows the labor market for automobile workers. The curve labeled S is the labor supply curve, and the curves labeled D₁ and D₂ are the labor demand curves. On the horizontal axis, L represents the quantity of labor in the market.
Figure 18-8 This figure below shows the labor market for automobile workers. The curve labeled S is the labor supply curve, and the curves labeled D₁ and D₂ are the labor demand curves. On the horizontal axis, L represents the quantity of labor in the market. -Refer to Figure 18-8.Which of the following is a possible explanation of the shift of the labor-demand curve from D₁ to D₂? A) The wage earned by automobile workers increased. B) The price of automobiles increased. C) The opportunity cost of leisure, as perceived by automobile workers, decreased. D) Large segments of the population changed their tastes regarding leisure versus work.
-Refer to Figure 18-8.Which of the following is a possible explanation of the shift of the labor-demand curve from D₁ to D₂?


A) The wage earned by automobile workers increased.
B) The price of automobiles increased.
C) The opportunity cost of leisure, as perceived by automobile workers, decreased.
D) Large segments of the population changed their tastes regarding leisure versus work.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q163: Figure 18-8
This figure below shows the labor

Q189: Figure 18-9 Figure 18-9 </p></div><svg width=

Q193: Suppose that the market for labor is

Q195: Figure 18-9 Figure 18-9 </p></div><svg width=

Q200: Suppose that the market for labor is

Q283: Figure 18-8
This figure below shows the labor

Q286: Figure 18-10
Figure 18-10 </p></div><svg width=

Q289: Figure 18-8
This figure below shows the labor

Q290: Figure 18-10
Figure 18-10 </p></div><svg width=

Q324: Figure 18-9 Figure 18-9 </p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents