The Elasticity of the Labor Supply Curve Depends on All

question 45

Multiple Choice

The elasticity of the labor supply curve depends on all of the following factors except:

• A) individuals' opportunity cost of working.
• B) the number of workers who enter or leave the labor market as the wage rate changes.
• C) the elasticity of demand for a firm's output.
• D) the elasticity of individuals' labor supply curves.

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Definitions:

Workforce Planning

The process used by managers to determine their needs with regard to human resources including retaining their talented employees, promoting employees, as well as removing poor performers.

Critical Elements

Fundamental components or aspects that are essential for the success or effectiveness of a system, process, or strategy.

Bona Fide Occupational

A qualification or requirement that is genuinely necessary for a particular job, used to justify certain hiring criteria that might otherwise be viewed as discriminatory.

Discriminate Hiring

The unfair treatment of potential employees based on non-job-related factors such as race, gender, or age during the hiring process.