Homework Help is Here – Start Your Trial Now!
Business
Economics
Which one of the following statement is correct: The labour supply curve is downward sloping because the price of leisure decreases when wages are higher. O The intersection of labour supply and demand always determines the level of employment in the economy. Usually the youth unemployment rate is lower than the aggregate unemployment rate because there are less young individuals willing to work. O labour income taxes create distortions in the labour market. If wages are rigid, imposing taxes will not affect the level of employment in equilibrium

Which one of the following statement is correct: The labour supply curve is downward sloping because the price of leisure decreases when wages are higher. O The intersection of labour supply and demand always determines the level of employment in the economy. Usually the youth unemployment rate is lower than the aggregate unemployment rate because there are less young individuals willing to work. O labour income taxes create distortions in the labour market. If wages are rigid, imposing taxes will not affect the level of employment in equilibrium

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question
Explain all option plz......you will not explain all option then I will give you down upvote...
Which one of the following statement is correct: The labour supply curve is downward sloping because the price of leisure decreases when wages are higher. O The intersection of labour supply and demand always determines the level of employment in the economy. Usually the youth unemployment rate is lower than the aggregate unemployment rate because there are less young individuals willing to work. O labour income taxes create distortions in the labour market. If wages are rigid, imposing taxes will not affect the level of employment in equilibrium
Transcribed Image Text:Which one of the following statement is correct: The labour supply curve is downward sloping because the price of leisure decreases when wages are higher. O The intersection of labour supply and demand always determines the level of employment in the economy. Usually the youth unemployment rate is lower than the aggregate unemployment rate because there are less young individuals willing to work. O labour income taxes create distortions in the labour market. If wages are rigid, imposing taxes will not affect the level of employment in equilibrium
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS