The Labor Supply Curve Is Positively Sloped Because

question 1

Multiple Choice

The labor supply curve is positively sloped because:

• A) more people are willing to work at low wages than at high wages.
• B) more people are willing to work at high wages than at low wages.
• C) employers are willing to hire more people at low wages.
• D) employers are willing to hire more people at high wages.

---

Definitions:

Tajfel's Theory

This social psychology theory posits that group membership creates in-group/self-categorization and enhancement in ways that favor the in-group at the expense of the out-group.

Award Money

Financial compensation given as a reward for excellence, achievement, or winning in various contexts such as contests, competitions, or incentives.

Social Loafing

Social loafing refers to the phenomenon where individuals exert less effort when working in a group than when working alone.

Exert Less Effort

The phenomenon where individuals decrease the amount of physical or mental energy put into tasks, often observed when they perceive less reward or recognition.