- Changes In Labor Supply Curve Shift In Labor Market And Thus Changes In Equilibrium Wages And Quantity Of Labor Are Ma 1 (52.09 KiB) Viewed 85 times
Changes in labor supply curve (shift) in labor market and thus changes in equilibrium wages and quantity of labor are mainly attributed to among others Changes in technology of production changes in value of marginal productivity of labor and output price O Changes in labor force growth rate and labor participation rate Changes in wage elasticity of labor demand curve Question 11 1 pts Economic theory explains that increase in GDP growth rate indicates the rise in living standard and job growth for the economy. However, the positive growth rate of GDP is not necessarily a clear indicator of economic well being for all citizens of the economy because of other factors like are not counted in GDP growth information. They are among others. All of these statements are correct answers Income distribution and leisure and work tradeoff Environmental impact of pollution and traffic congestions C Access to healthcare, entertainment and education Question 12 1 pts Income distribution is measured by It is measured graphically by the Lorenz Curve It is calculated by a ratio in the Lorenz Curve called Gini-coefficient O All of these statements are correct answers O what % of households earn what % of national income