In the market for labor, demand describes (1 point) O the quantity of labor that workers are willing to provide. O the relationship between the quantity of labor that firms are willing to hire and the wage that they are willing to pay. the relationship between the quantity of labor that workers are willing to provide and the wages they are willing to accept. the quantity of labor that firms are willing to hire. The derived demand for labor comes from the (1 point) O wages paid to workers. O demand for the goods and services that the labor produces. O difficulty of the labor involved in producing the goods and services. wages accepted by workers. Olivia is considering working a secretary job for a small law firm. Given the opportunity costs of working the job, she will not accept a wage less than $12 per hour. Which of the following is likely to raise Olivia's reservation wage? (1 point) Olivia learns that the job is more challenging than she initially thought. Olivia takes on more debt and is struggling to make payments on time. O Olivia has spent all of her savings and is struggling to pay rent. Olivia learns that employees are paid bonuses at the end of every month. Which of the following describes the substitution effect? (1 point) O As wages increase, an individual's total potential income rises, making him less likely to choose leisure over labor. As wages increase, an individual's total potential income rises, making him more likely to choose leisure over labor. As wages increase, an individual's leisure becomes more costly, making him less likely to choose leisure over labor. As wages increase, an individuals leisure becomes less costly, making him more likely to choose leisure over labor. In response to a lack of qualified nurses in the area, a state government has funded a campaign to increase the number of high school graduates interested in nursing careers. If successful, the campaign would (1 point) O shift the labor supply curve to the left. shift the labor demand curve to the right. O shift the labor supply curve to the right. shift the labor demand curve to the left