Which of the Following Examples Would Illustrate a Backward-Sloping Labor

question 36

Multiple Choice

Which of the following examples would illustrate a backward-sloping labor supply-curve?

• A)An increase in a person's wages results in the person working fewer hours per week.
• B)A decrease in a person's wages results in the person working more hours per week.
• C)An increase in a person's wages results in the person working more hours per week.
• D)Both a and b are correct.

---

Definitions:

Sales Increase

It refers to the upward change in the number of products sold or the value of sales over a specific period.

Percentage of Sales

The percentage of sales method is a financial forecasting model that estimates various financial figures as a fixed percentage of predicted sales.

Unit Sales

The total quantity of units of a product sold within a specific time frame.

Target Profit

The desired level of profit a company aims to achieve, often used in pricing and business strategy planning.