Name two factors that will increase the demand for labor, and two factors that will increase the supply of labor.
What will be an ideal response?
The demand for labor will increase if the productivity of workers increases, or if the price of the output produced by those workers increases. The supply of labor will increase if there is immigration, or if an occupation becomes relatively more attractive due to advertising, social status, or a change in the preferences of workers.
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Explain how tax revenue can be both an automatic fiscal policy and a discretionary fiscal policy
What will be an ideal response?
Refer to Figure 6-10. A perfectly elastic supply curve is shown in
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Juanita has just started a business and is using her personal car to deliver goods. The use of her car is an example of
A) an explicit cost to the business. B) an implicit cost to the business. C) financial capital. D) interest.