Business and Labor Online Practice

Question

Complete this assessment to review what you’ve learned. It will not count toward your grade.
11 of 1611 of 16 Items

Question
Which of the following statements describes the supply or demand curves for labor?(1 point)
Responses

Businesses generally demand a higher quantity of labor as wages decrease.
Businesses generally demand a higher quantity of labor as wages decrease.

The graph of the curve for market demand for labor increases going from left to right.
The graph of the curve for market demand for labor increases going from left to right.

Businesses generally demand a higher quantity of labor as wages increase.
Businesses generally demand a higher quantity of labor as wages increase.

The graph of the supply curve for labor decreases going from left to right.
The graph of the supply curve for labor decreases going from left to right.
Remaining Attempts : 3

Answer 1

The correct statement that describes the supply or demand curves for labor is:

Businesses generally demand a higher quantity of labor as wages decrease.

This reflects the typical downward-sloping demand curve in economics, indicating that at lower wage rates, employers are willing to hire more workers.