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wrote...
Posts: 54
2 weeks ago

Question 1.

The labor supply for an industry would decrease if

• the wage rate falls.

• the percentage of the population from age 16 to 65 decreases.

• the government welcomes foreign workers into the country.

• a greater percentage of women want to work outside the home.

Question 2.

How will an increase in population affect the labor market?

• It will shift the market supply curve.

• It will cause a decrease in the quantity of labor demanded.

• It will increase the supply of jobs.

• It will increase the opportunity cost of leisure.
Source  Download
Microeconomics
Edition: 7th
Authors:
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wrote...
Posts: 50
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2 weeks ago
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Answer 1

the percentage of the population from age 16 to 65 decreases.

Answer 2

It will shift the market supply curve.
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wrote...
2 weeks ago
Exactly what I needed for my project, TYSM
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