An Increase in Market Labor Supply Can Occur with an Increase

question 61

Multiple Choice

An increase in market labor supply can occur with an increase in immigration as well as:

• A) a decrease in the working age population.
• B) an unfavorable change in the taste and preference for work.
• C) an increase in nonlabor income.
• D) a reduction in taxes.

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Definitions:

Investing

Allocating resources, usually money, with the expectation of generating an income or profit.

Saving

The act of setting aside a portion of current income for future use, typically in a secure form such as a bank account or investment, to meet long-term goals or emergencies.

Shares

Shares represent an ownership stake in a company or financial asset, entitling the holder to a proportional share of the profits through dividends, if such profits are distributed.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing to make available.