The Labor Demand Curve Is Downward Sloping Because

question 123

Multiple Choice

The labor demand curve is downward sloping because:

• A) Each individual worker tends to be more valuable as more workers are hired.
• B) Each individual worker tends to be less valuable as more workers are hired.
• C) Marginal physical product increases as more workers are hired.
• D) The amount of available labor declines as the wage rate declines.

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Definitions:

Crowdsourcing

The act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call.

Resources Requirements

The specific needs for materials, human capital, and financial assets necessary to carry out an operation or project.

Demographic Impacts

The effects that changes in the demographic profile of a population have on various societal elements, including the workforce, economy, and consumer trends.

Human Resources

The department within an organization that is responsible for all aspects of managing the employer-employee relationship, including recruitment, training, performance management, and ensuring compliance with employment laws.