Which of the Following Helps to Explain Why the Supply

question 36

Multiple Choice

Which of the following helps to explain why the supply curve of labour is upward sloping?

• A)The supply curve of labour is a derived supply curve; since the output supply curve is upward sloping, so is the labour supply curve.
• B)As the wage rate rises, the income effect causes the quantity of labour supplied to increase.
• C)The substitution effect of a price change makes a good more expensive relative to other goods.
• D)As the wage rate rises, the opportunity cost of leisure rises.

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Definitions:

If Statement

A conditional statement in programming that performs different actions based on whether a specified condition is true or false.

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A property that determines whether an element, such as a control, field, or application window, is displayed or hidden from view.

Display

The presentation of information or data on a screen or output device.

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A feature in software that automatically generates unique keys or identifiers for new records in a database.