The labor __________ curve(s) will shift ____________ if there is an increase in productivity or an increase in the demand for the final product.

Question

BlackTom AI · Accepted Answer

To begin, let's restate the question in our own words: The labor __________ curve(s) will shift ____________ if there is an increase in productivity or an increase in the demand for the final product.

Option 1: 'supply; left' — This would claim that labor supply moves left when productivity rises or product demand grows. In standard labor economics, increases in productivity or product demand primarily affect the demand for labor (how much employers want to hire), not the supply of labor. A leftward shift in labor supply would imply fewer workers or higher barriers to entry, which is not directly tied to productivity gains or final-product demand.

Option 2: 'demand; left' — Here, the claim is that labor demand shifts left in response to higher productivity or higher final-product demand. The intuition behind productivity gains and stronger product demand is typically to hire more workers, not fewer, so a leftward shift is inconsistent with the expected effect on hiring.

Option 3: 'demand; right' — This option asserts that the labor demand curve shifts to the right when productivity increases or when there is greater demand for the final product. Higher productivity makes workers more productive and cost-effective, increasing the value of marginal product of labor, which boosts the quantity of labor demanded at each wage. Similarly, greater final-product demand increases the need for more labor to produce more output, also shifting the labor demand curve to the right.

Option 4: 'supply; right' — This suggests the labor supply curve shifts right due to productivity or product demand. While supply can respond to wages and other factors, the stated drivers (productivity and product demand) more directly influence employers' demand for labor rather than workers' willingness to supply labor. Therefore, this option misidentifies the affected curve.

In summary, the productive improvement and stronger product demand logically increase the employer's demand for labor, moving the labor demand curve to the right, rather than shifting the supply curve or moving in the opposite direction.

The labor curve(s) will shift __ if there is an increase in productivity or an increase in the demand for the final product.

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