4. How would each of the following factors be likely to affect Page 128 the economy-wide supply of labour? LO 5.3 EASY a)The compulsory retirement age is increased. b)Increased productivity causes real wages to rise. c)War preparations lead to the institution of a national draft, and many young people are called up. d)More people decide to have children (consider both short-run and long-run effects). e)Social security benefits are made more generous.