In Figure 30

question 32

Multiple Choice

In Figure 30.1, the labor supply could shift from S1 to S2 due to all of the following except

• A) Fewer workers preferring to work in this labor market.
• B) An increase in the number of workers willing to work in this labor market.
• C) A decrease in the payroll tax on workers.
• D) A decrease in the attraction of leisure activities.

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Definitions:

Imperfect Information

The absence of full knowledge concerning product characteristics, available prices, and so on.

Peer Lending

A financial transaction in which individuals lend money to each other directly, often facilitated by an online platform, bypassing traditional financial intermediaries.

Savings Deposits

Accounts in financial institutions that allow individuals to deposit money and earn interest over time.

Import Substitution

An industrial trade strategy that favors developing local industries that can manufacture goods to replace imports.