15. Markets for the Factors of Production
Shifts in Labor Supply
Multiple Choice
Multiple ChoiceA low birthrate in Japan led to a general increase in the age of the population in the country. During the 1990s, this led to a decrease in the number of working age people in Japan. What would we expect to occur in the labor market?
A
Labor demand increases
B
Labor demand decreases
C
Labor supply increases
D
Labor supply decreases
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