The “law of supply” functions in labor markets; that is, a higher __________ for labor leads to a higher quantity of labor supplied.
A. price
B. demand
C. supply
D. quantity
Answer:A
The “law of supply” functions in labor markets; that is, a higher __________ for labor leads to a higher quantity of labor supplied.
A. price B. demand C. supply D. quantity
Explanation: 2. As the __________ substitute for low-skill labor becomes available, the demand curve for low-skill labor will shift to the left.