The upward sloping portion of the supply curve for labor implies that
A. the law of diminishing returns has settled in.
B. higher wages lead to fewer hours of work supplied.
C. higher wages lead to an increase in hours of work supplied.
D. a minimum wage law is in effect.
Answer: C
Economics
You might also like to view...
The table above gives some of the balance of payments accounts of the United States in 2017
a. What is the current account balance? b. What is the capital and financial account balance? c. What is the official settlements account balance?
Economics
Since 1960, which of the following countries had average growth rates in real GDP per person higher than that of the United States?
A) Singapore B) Hong Kong C) South Korea D) All of the above answers are correct.
Economics