Welfare Benefits Reduce the Need to Work and Result in a Shift

question 116

Multiple Choice

Welfare benefits reduce the need to work and result in a shift in the

• A)Labor supply curve to the left.
• B)Labor supply curve to the right.
• C)Labor demand curve to the left.
• D)Labor demand curve to the right.

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Definitions:

Principal

In finance, it refers to the original sum of money borrowed in a loan or invested, excluding any interest or dividends.

Liable

Subject to legal responsibility, often implying a requirement to compensate for damages or loss caused.

Torts

Civil wrongdoings recognized by law as grounds for a lawsuit, resulting in injury or harm that constitutes the basis for a claim by the injured party.

Business

The systematic endeavors and operations by people to create and market products and services with the aim of making a profit.