The Demand Curve for Labor Would Shift Leftward as the Result

question 87

Multiple Choice

The demand curve for labor would shift leftward as the result of

• A) an increase in the price of the product labor is producing.
• B) a decrease in the productivity of labor.
• C) an increase in the price of labor.
• D) a decrease in the price of capital, provided the output effect exceeds the substitution effect.

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Definitions:

Incapacity

Lacking the ability, power, or legal qualification to act, make decisions, or give consent.

Unenforceable Agreement

A contract or agreement that, due to certain defects or legal deficiencies, cannot be legally enforced or compelled by a court.

Compensatory Damages

Financial compensation awarded to a plaintiff to redress the loss or injury that has been suffered.

Punitive Damages

Monetary compensation awarded to an injured party that goes beyond what is necessary to compensate for losses and is intended to punish the wrongdoer.