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Economics miscellaneous

  1. The supply of labour in the economy depends on
    1. Population
    2. National income
    3. Per capita income
    4. Natural resources
Correct Option: A

The supply curve for labor depends on variables such as population, wage rates, etc. in developing countries, the vast population base explains the relatively lower wage rates and easy accessibility to labour supply. This is just the opposite in the case of developed countries.



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