Suppose that the market for labor is initially in equilibrium. An increase in immigration will cause the equilibrium wage
a. and the equilibrium quantity of labor to rise.
b. and the equilibrium quantity of labor to fall.
c. to rise and the equilibrium quantity of labor to fall.
d. to fall and the equilibrium quantity of labor to rise.
d
Economics
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International data on real GDP per person gives us a sense of how standards of living vary across countries
a. True b. False Indicate whether the statement is true or false
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In a competitive market, the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. The full economic price under a price ceiling of $3 is
A. 6. B. 7. C. 8. D. 9.
Economics