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Lopezj273 Lopezj273
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5 years 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.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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gumpfablegumpfable
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5 years ago
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Lopezj273 Author
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#2
5 years ago
Exactly what I needed for my project, TYSM
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