Name and discuss three factors that move the labor supply curve to the right.

What will be an ideal response?

Answers will vary. Factors that move the labor supply curve to the right are those
that increase the labor supply. For example, an influx of immigrants seeking work
increases the labor supply. Other factors include individuals who are willing to work
more hours at a given wage, those who are reentering the workforce after childrearing,
or individuals who have lost nonwage income (parental support, for example) and seek
to replace the income through work. In addition, amenities such as a good location,
generous fringe benefits, and workplace perks like flexible workspaces and start times
all contribute to an increase in the quantity supplied of labor.

Economics

You might also like to view...

A customs union will increase the welfare of its members and the rest of the world if:

a. trade creation is greater than trade diversion. b. trade creation is less than trade diversion. c. trade creation is positive. d. trade diversion is positive.

Economics

The interest rate charged on a risk-free loan exceeds the rate on a risky loan

a. True b. False

Economics