The government decided to increase the age atretirement to 70 years old, which lowers the value ofadults' time at home. As a result, theSelect one:O A. demand for labor increasesO B. demand for labor decreasesO C. supply of labor decreasesO D. supply of labor increases

Increasing the retirement age have both positive and negative influence in the economy.

Answered: The government decided to increase the…

The government decided to increase the age at retirement to 70 years old, which lowers the value of adults' time at home. As a result, the

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 20RQ: Whether the product market or the labor market, what happens to line equilibrium price and quantity...

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Question

The government decided to increase the age at
retirement to 70 years old, which lowers the value of
adults' time at home. As a result, the
Select one:
O A. demand for labor increases
O B. demand for labor decreases
O C. supply of labor decreases
O D. supply of labor increases

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