Definitions from Wikipedia (Backward bending supply curve of labour)

▸ noun:  In economics, a backward-bending supply curve of labour, or backward-bending labour supply curve, is a graphical device showing a situation in which as real (inflation-corrected) wages increase beyond a certain level, people will substitute time previously devoted for paid work for leisure (non-paid time) and so higher wages lead to a decrease in the labour supply and so less labour-time being offered for sale.


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