At Low Wages, the Labor Supply Curve for Most People

question 189

Multiple Choice

At low wages, the labor supply curve for most people slopes upward because

• A)the supply of labor is perfectly inelastic at low wages.
• B)as wages increase the opportunity cost of leisure increases.
• C)as wages increase income also increases unless hours worked decrease.
• D)the demand for labor is perfectly elastic at low wages.

---

Definitions:

Ingroup

A social group to which a person psychologically identifies as being a member; contrasts with "outgroup," which is any group the person does not identify with.

Social Identity Group

A collective of individuals who perceive themselves as belonging to the same social category or sharing significant aspects of their identity.

Public Assistance Programs

Government-funded initiatives designed to provide financial or material support to individuals or families in need, including healthcare, housing, and food assistance.

Developed Countries

Developed countries are nations with advanced economies, high standards of living, and well-established infrastructure.