How will an increase in population affect the labour market?
A)It will shift the market supply curve.
B)It will cause a decrease in the quantity of labour demanded.
C)It will increase the supply of jobs.
D)It will increase the opportunity cost of leisure.

Question

Quizplus · Accepted Answer

An increase in population will result in a larger pool of potential workers, causing a shift in the market supply curve. This can lead to an increase in competition for jobs, potentially causing wages to decrease. However, it can also lead to an increase in demand for goods and services, creating new job opportunities. Therefore, the effect on the labour market can be complex and depend on various factors, including the skills and education of the population and the overall state of the economy.

How Will an Increase in Population Affect the Labour Market