How Will an Increase in Population Affect the Labor Market

question 169

Multiple Choice

How will an increase in population affect the labor market?

• A)It will shift the market supply curve.
• B)It will cause a decrease in the quantity of labor demanded.
• C)It will increase the supply of jobs.
• D)It will increase the opportunity cost of leisure.

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Definitions:

Domestic Consumers

Individuals or entities within a country that purchase goods and services for personal use.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another.

Computers

Electronic devices designed to process, store, and output information, serving a wide range of personal, educational, and business applications.

Oil

A fossil fuel found in the Earth's crust, primarily used for energy production and as a raw material in the chemical industry; crucial to the global economy.