A New Policy Is Implemented That Guarantees Every Adult an Annual

question 81

Multiple Choice

A new policy is implemented that guarantees every adult an annual income of $10,000 whether they work or not. This will most likely shift the

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

---

Definitions:

Regression Model

A mathematical model that describes the relationship between a dependent variable and one or more independent variables.

Multiple Regression

A statistical technique used to model and analyze the relationship between a dependent variable and two or more independent variables.

Independent Variables

Variables in an experiment or regression model that are manipulated or categorized to determine their effect on dependent variables.

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together, implying a possible relationship but not causation.