Which of the Following Would Cause the Australian Labour Supply

question 207

Multiple Choice

Which of the following would cause the Australian labour supply curve to shift?
(i) an influx of workers from New Zealand
(ii) a subsidy on the cost of childcare
(iii) an increase in the demand for labour

• A)(i) and (ii)
• B)(i) and (iii)
• C)(ii) and (iii)
• D)(i), (ii) and (iii)

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Definitions:

Inelastic Demand

A market situation where the quantity demanded of a product does not change significantly when its price varies.

Price Elasticity

A measure of how much the demand for a product changes in response to a change in its price.

Demand

The total quantity of a product or service that consumers are willing and able to purchase at a given price.

Assessments of Value

The process of evaluating or estimating the worth, significance, or effectiveness of an item, service, or process.