The labor supply curve is fundamentally a representation of the trade-off people face between which of the following?
A)inflation and unemployment
B)prosperity and wages
C)time and leisure
D)labor and leisure

Question

Quizplus · Accepted Answer

The labor supply curve shows the quantity of labor that individuals are willing to supply at different wage rates, based on their trade-off between the amount of leisure time they have and the amount of labor they are willing to provide to earn wages. Therefore, the correct answer is D, labor and leisure.

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