Labor, Population, and Migration Economics
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Questions and Answers

What happens to the supply of labor when there is an increase in population?

  • It fluctuates
  • It decreases
  • It remains the same
  • It increases (correct)

What is the advantage to the country of origin when there is labor migration?

  • It relieves unemployment pressures (correct)
  • It increases unemployment pressures
  • It reduces the supply of labor
  • It leads to shortage of workers

What is the role of labor in an economy?

  • To discourage migration
  • To turn raw materials into finished products and services (correct)
  • To increase unemployment
  • To reduce the demand for goods and services

What happens to the quantity demanded of labor when the supply of labor increases?

<p>It increases (B)</p> Signup and view all the answers

What happens to the quantity of labor demanded when there is a decrease in the supply of labor?

<p>It decreases (A)</p> Signup and view all the answers

What is the reason for people migrating from one country to another for labor purposes?

<p>To seek higher wages (C)</p> Signup and view all the answers

What was the response of the Philippine government to the housing shortage?

<p>Investing in low-cost housing projects (D)</p> Signup and view all the answers

What is the main cause of the housing shortage in the Philippines?

<p>Lack of available land (D)</p> Signup and view all the answers

What happens to the quantity demanded when the price of a product increases?

<p>It decreases (C)</p> Signup and view all the answers

What is the consequence of the real estate boom in the Philippines?

<p>Rising rental prices (D)</p> Signup and view all the answers

What happens to the supply when the government imposes a tax on a product?

<p>It decreases (D)</p> Signup and view all the answers

What happens to the demand for a product when the price of complementary goods increases?

<p>It decreases (C)</p> Signup and view all the answers

Study Notes

Labor and Migration

  • An increase in population leads to an increase in the supply of labor
  • Labor migration benefits the country of origin by reducing unemployment, increasing remittances, and gaining access to foreign skills and knowledge
  • Labor plays a crucial role in an economy by contributing to production, generating income, and influencing economic growth

Demand and Supply of Labor

  • An increase in the supply of labor leads to a decrease in the quantity demanded of labor
  • A decrease in the supply of labor leads to an increase in the quantity demanded of labor

Labor Migration

  • The main reason for people migrating from one country to another for labor purposes is to seek better job opportunities, higher wages, and improved living standards

Housing in the Philippines

  • The Philippine government responded to the housing shortage by implementing policies to increase the supply of housing units and providing subsidies to low-income families
  • The main cause of the housing shortage in the Philippines is the rapid urbanization and population growth

Demand and Supply of Goods

  • An increase in the price of a product leads to a decrease in the quantity demanded
  • The real estate boom in the Philippines leads to an increase in housing prices and rents, making it difficult for low-income families to access housing

Government Intervention

  • Imposing a tax on a product leads to a decrease in the supply of that product
  • An increase in the price of complementary goods leads to a decrease in the demand for the original product

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Description

Test your knowledge of labor, population, and migration economics with this quiz. Explore concepts such as labor supply, population effects on labor, and the advantages of labor migration.

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