A decrease in the wage rate will have a smaller impact on hours worked if the:
A. labor supply curve is upward sloping.
B. labor supply curve is vertical.
C. labor supply curve is horizontal.
D. labor supply curve is negatively slopeD.
Answer:B
A decrease in the wage rate will have a smaller impact on hours worked if the:
A. labor supply curve is upward sloping. B. labor supply curve is vertical. C. labor supply curve is horizontal. D. labor supply curve is negatively slopeD.