The labor supply curve is fundamentally a representation of the trade-off people face between which of the following?
A)work and wages
B)work and leisure
C)wages and productivity
D)technology and wages

Question

Quizplus · Accepted Answer

The labor supply curve represents the trade-off people face between working and having leisure time. As the wage rate increases, individuals may be willing to work more hours to earn a higher income, but may also choose to work fewer hours in order to have more leisure time. This trade-off is represented by the upward-sloping labor supply curve.

The Labor Supply Curve Is Fundamentally a Representation of the Trade-Off