Consider a labor market that is initially in equilibrium. When the labor demand curve shifts to the left while the labor supply curve remains unchanged, the:
a. equilibrium wage rate increases
b. price of the output that uses this labor resource increases.
c. equilibrium number of workers hired increases.
d. equilibrium wage rate falls.
d
Economics
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Refer to the figure above. A one unit increase in labor supply will lead to ________ in output in Country X than in Country Y
A) a smaller increase B) a smaller decrease C) a larger decrease D) a larger increase
Economics
Refer to Figure 4-1. If the market price is $1.00, what is the maximum number of burritos that Arnold will buy?
A) 1 B) 2 C) 3 D) 4
Economics