In General, the Labor Supply Curve

question 30

Multiple Choice

In general, the labor supply curve

• A)slopes downward because firms will hire fewer workers at higher wages.
• B)slopes upward because as the wage rises, the opportunity cost of leisure increases.
• C)is vertical at the equilibrium wage rate.
• D)is perfectly elastic at the equilibrium wage rate.

---

Definitions:

Wernicke's Area

A region of the brain involved in understanding spoken language, located in the temporal lobe.

Aphasia

A disorder resulting from damage to parts of the brain that are responsible for language, leading to difficulties in speaking, reading, writing, or understanding language.

Cognitive Development

The process of growth and change in intellectual capabilities, including thinking, reasoning, problem-solving, and understanding complex concepts.

Piaget

Refers to Jean Piaget, a Swiss developmental psychologist best known for his theory of cognitive development in children.