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Shifts in Labor Supply quiz

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이 집합의 용어 (15)

  • What happens to the labor supply curve when the population increases?
    The labor supply curve shifts to the right, indicating an increase in labor supply.
  • How does a decrease in population affect the labor supply?
    A decrease in population shifts the labor supply curve to the left, reducing labor supply.
  • What are two main sources of population growth that affect labor supply?
    Population growth can come from immigration and births exceeding deaths.
  • How do demographics influence labor supply?
    Demographics, such as the proportion of people in working age, affect the overall supply of labor.
  • What is considered the working age range in the US?
    The working age range in the US is typically between 18 and 65 years old.
  • What effect did the baby boomer generation reaching working age have on labor supply?
    When baby boomers reached working age in the 1970s and 1980s, labor supply increased significantly.
  • How has the participation of women in the workforce changed since the 1960s?
    The participation of women in the workforce has been steadily increasing since the 1960s.
  • What was the typical role of women in the workforce in the early 1900s?
    Most women were homemakers, staying home to care for the family, with men as the primary earners.
  • How does the availability of alternative opportunities affect labor supply in a specific market?
    If wages increase in a similar market, labor supply in the original market decreases as workers move to the higher-paying jobs.
  • What happens to labor supply in the pizza market if pastry chef wages increase?
    Labor supply in the pizza market decreases as workers leave to become pastry chefs for higher wages.
  • If wages for pastry chefs decrease, what is the effect on the pizza labor market?
    Labor supply in the pizza market increases as pastry chefs switch to making pizzas.
  • Why might orange pickers switch to picking apples?
    If apple pickers' wages rise, orange pickers may switch to picking apples for higher pay.
  • What is the direct effect of an increase in the number of people in the country on labor supply?
    An increase in the number of people directly increases labor supply.
  • How do changes in labor supply relate to shifts in the supply curve?
    Increases in labor supply shift the curve right, while decreases shift it left.
  • What should you consider when analyzing labor supply shifts in a market?
    You should consider population size, demographics, and alternative opportunities in other labor markets.