Refer to the information provided in Figure 13.4 below to answer the questions that follow. Figure 13.4
-Refer to Figure 13.4. Suppose there is a decrease in the fertility rate and this causes some men and women to place a lower value on their time spent in nonmarket activities. This will cause

Question

Refer to the information provided in Figure 13.4 below to answer the questions that follow.  Figure 13.4
-Refer to Figure 13.4. Suppose there is a decrease in the fertility rate and this causes some men and women to place a lower value on their time spent in nonmarket activities. This will cause

Quizplus · Accepted Answer

A decrease in the fertility rate often leads to more individuals, particularly women, entering the workforce or increasing their working hours because they have fewer child-rearing responsibilities. This change in behavior increases the availability of labor, shifting the labor supply curve to the right of S, indicating an increase in the labor supply.

Refer to the Information Provided in Figure 13