Which of the Following Is TRUE

question 109

Multiple Choice

Which of the following is TRUE?
I. The market supply curve for labor can be upward sloping or downward sloping.
II. As wages increase, the market labor supply curve slopes upward because some people are willing to work more hours.
III. As wages increase in the health care industry, the market labor supply curve slopes upward because some workers from other industries decide to get jobs in health care.

• A) I only
• B) II only
• C) I, II, and III
• D) II and III only

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Definitions:

Underemployment

Refers to the employment of workers in jobs that are below their skills level or part-time workers who would prefer to be full-time.

Unemployment

The situation when individuals who are capable of working and are seeking work are unable to find employment.

Demographic Transition

Refers to the transition from high birth and death rates to lower birth and death rates as a country or region develops from a pre-industrial to an industrialized economic system.

Population Growth

The increase in the number of individuals in a population, measured by the natural increase and net migration.