If both the supply of labor and the demand for labor increase, then

A) potential GDP decreases.
B) potential GDP increases.
C) full employment decreases.
D) the impact on potential GDP is uncertain

B

Economics

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A monopsonist hires the amount of labor where the marginal revenue product of labor equals the:

a. price of the monopsonist's product. b. wage rate. c. marginal factor cost of labor. d. marginal product of labor.

Economics

Total costs in the table are:Control variableTotal BenefitsTotal CostsNet BenefitsMarginal BenefitMarginal CostMarginal Net BenefitQB(Q)C(Q)N(Q)MB(Q)MC(Q)MNB(Q)0000---190010080090010080021,700300C80020060032,4006001,800700E4004A1,0002,00060040020053,5001,5002,000500500F63,9002,1001,800D600-20074,2002,8001,400300700-40084,400B800200800-60094,5004,5000100900-800104,5005,500-1,00001,000-1,000

A. decreasing at a constant rate. B. increasing at an increasing rate. C. increasing at a constant rate. D. decreasing at a decreasing rate.

Economics