question elasticity of labor supply measures ________. select the correct answer below: the change in hours…

question elasticity of labor supply measures ________. select the correct answer below: the change in hours worked as a response to changes in wage. the change in job seekers as a response to the change in wage. the change in job openings as a response to the change in minimum wage. the unemployment rate

question elasticity of labor supply measures ________. select the correct answer below: the change in hours worked as a response to changes in wage. the change in job seekers as a response to the change in wage. the change in job openings as a response to the change in minimum wage. the unemployment rate

Answer

Brief Explanations:

The elasticity of labor supply measures the responsiveness of the quantity of labor supplied to a change in the wage rate. It is typically measured by the percentage - change in the quantity of labor supplied divided by the percentage - change in the wage rate. The quantity of labor supplied is often reflected in the number of hours worked. So it measures the change in hours worked as a response to changes in wage.

Answer:

the change in hours worked as a response to changes in wage.