Match the following with the correct answer. Answers can be used more than once.v In the labor market, what causes a movement along the A. A change in anything that affects the demand of labordemand curve?B. A change in anything that affects the supply of laborv In the labor market, what causes a shift in the demandC. other input pricescurve?D. A change in anything that affects supply of labor other thanpricev In the labor market, what causes a movement along theE. Changes in the wage rate (the price of labor).supply curve?F. A change in anything that affects demand for labor other thanpricev In the labor market, what causes a shift in the supplycurve?

Answered: Match the following with the correct…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Match the following with the correct answer. Answers can be used more than once.
v In the labor market, what causes a movement along the A. A change in anything that affects the demand of labor
demand curve?
B. A change in anything that affects the supply of labor
v In the labor market, what causes a shift in the demand
C. other input prices
curve?
D. A change in anything that affects supply of labor other than
price
v In the labor market, what causes a movement along the
E. Changes in the wage rate (the price of labor).
supply curve?
F. A change in anything that affects demand for labor other than
price
v In the labor market, what causes a shift in the supply
curve?

Expert Solution

Step 1

There will be movement along the demand curve if wage rate changes and other factors affecting the demand curve of labor remains same. If factors other than wage rate change, there will be shift in the demand curve of labor.

There will be movement along the supply curve if wage rate changes and other factors affecting the supply curve of labor remains same. If factors other than wage rate change, there will be shift in the supply curve of labor.

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