What is the relationship between wages and the supply of labor?
What will be an ideal response?
The higher the wage, other things constant, the more labor supplied.
Economics
You might also like to view...
What is search activity and how does it influence consumer surplus when a rent ceiling creates a housing shortage?
What will be an ideal response?
Economics
Investment in both physical and human capital tends to enhance economic growth because it generally
a. increases consumption during the current period. b. makes it possible for individuals to produce more goods and services per hour worked. c. encourages firms to expand output by employing more low productivity workers. d. encourages workers to unionize and thereby fight for higher wages.
Economics