Question

The demand for labor in the U.S. Economy is derived demand from...

A-the supply of labor in the U.S. Economy.
B-the Bureau of Labor Statistics numbers for demand in the U.S. Economy.
C-the demand for G&S in the domestic U.S. Economy.
D-the demand for imported G&S.

Answer 1

C) the demand for G&S in the domestic U.S. Economy.

Step-by-step explanation:

Derived demand refers to the demand for a factor of production, such as labor, that is derived from the demand for the goods and services that the factor is used to produce. In the case of labor, the demand for labor is derived from the demand for the goods and services that labor is used to produce. As the demand for goods and services increases, the demand for labor to produce those goods and services also increases. Conversely, if the demand for goods and services decreases, the demand for labor also decreases.