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mezya [45]
1 year ago
14

As the wage rate increases, the quantity of labor supplied by an individual worker will?

Business
1 answer:
DENIUS [597]1 year ago
8 0

As the wage rate increases, the quantity of labor supplied by an individual worker will raise the quantity of labor supplied through the substitution effect.

For labor supply, the substitution effect is always positive.

It means that a higher wage rate always induces a greater quantity of labor supplied. For any worker, the substitution effect of a wage increament will always reduces the amount of leisure time consumed by him and increases the amount of time which is spent on working.

A higher wage thus produces a positive substitution effect on labor supply.

With the increase in the labor supply the supply curve for labor will  move upward.

To know more about the labor supply here:

brainly.com/question/12581323

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7 0
8 months ago
the economy is currently in long-run equilibrium. if the central bank increases the money supply, in the long run the price leve
Scorpion4ik [409]

The economy is currently in long-run equilibrium. If the central bank increases the money supply, in the long run the price level will raises.

<h3>What is long-run equilibrium?</h3>

The term “long-run equilibrium” is used in economics to represent a theoretical idea in which all markets are in equilibrium and all prices and quantities have fully adjusted to achieve equilibrium.

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4 0
1 year ago
In one paragraph, list and describe the three major effects of inflation on the economy
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5 0
3 years ago
If protective import-restricting tariffs are imposed by a country, in the majority of cases that nation's consumers end up consu
Wittaler [7]

Answer:

If protective import-restricting tariffs are imposed by a country, in the majority of cases that nation's consumers end up

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Import-restricting tariffs increase the cost of goods and services imported from other countries.  Governments have various reasons for making such impositions.  Some claim that the tariffs are imposed to protect local industries or to comply with local content requirements.  However, these restrictions hamper free trade.  They also distort the competitiveness of nations.

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