An Upward-Sloping Labor Supply Curve Means That

question 571

Multiple Choice

An upward-sloping labor supply curve means that

• A)workers prefer to buy more leisure time when their incomes increase.
• B)workers prefer to supply less labor when wages are high.
• C)an increase in the opportunity cost of leisure leads workers to increase the quantity of labor they supply.
• D)All of the above are correct.

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Definitions:

Agreeableness

A personality trait characterized by warmth, kindness, and a willingness to cooperate and avoid conflict.

Neuroticism

A personality trait characterized by moodiness, anxiety, and emotional instability.

Social Desirability

The behavior of those answering questions to do so in a manner they assume will generate favorable opinions from others.

Distinctiveness

A principle suggesting that an event or object is memorable or noticeable because it differs significantly from other events or objects.