Under Which of the Following Conditions Will the Labour Supply

question 156

Multiple Choice

Under which of the following conditions will the labour supply curve shift to the left?

• A) when, on average, people wait longer before retiring
• B) when nonlabour income increases
• C) other things being equal, when workers are willing to supply more hours of labour each week
• D) when new workers enter the labour market

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Definitions:

Personnel Limitation

Constraints or restrictions related to the number or capabilities of staff available for a project or operation.

Net Present Value

A calculation used to evaluate the profitability of an investment, subtracting the present values of cash outflows from the present values of cash inflows.

Binary Variable

A variable that takes on one of exactly two possible values, typically represented or coded as 0 and 1.

Processes

A series of actions or steps taken in order to achieve a particular end, often referring to sequences in manufacturing or computation.