Labor economics is studied as a distinct subfield of economics because:
A)the bulk of national income is received by labor
B)the concepts of supply and demand must be revised somewhat when applied to labor markets
C)labor economics can be used to analyze major socioeconomic trends such as the surge in the number of women workers
D)all of the above

Question

Quizplus · Accepted Answer

all three statements are correct. Labor economics is a distinct subfield of economics because labor accounts for the bulk of national income, the supply and demand framework must be revised when applied to labor markets, and labor economics can be used to analyze major socioeconomic trends such as the increase of women in the workforce.

Labor Economics Is Studied as a Distinct Subfield of Economics