Question

In: Economics

holding other things constant if a country working age population decreases and its wetlth increases the...

holding other things constant if a country working age population decreases and its wetlth increases the labor supply cureve

1. shifts to the left If the effect of the change in wealth is bigger than the effect of the change in the working age population

2. shifts to the right if the effect of the change in wealth in magnitude is bigger Than the effect of the change in the working age population

3. shifts to left

4. shifts to the right

Solutions

Expert Solution

1) Shifts to the Left if the effect of the change in wealth is bigger than the effect of the change in the working age population.

Hence holding other things being constant if a country working age population Decreases and wealth Increases the labour supply curve shifts to the left if the effect of the change in wealth is bigger than the effect of the change in the working age population.

Rahul Sunny answered 2 years ago
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