Suppose that the cost of living is 25 percent higher in Chicago than in Indianapolis. If wages in Chicago are 10 percent higher on average than wages in Indianapolis, then eventually the labor supply will
a. fall in Indianapolis, increasing the average wage there
b. fall in Chicago, increasing the average wage there
c. rise in Indianapolis, increasing the average wage there
d. rise in Chicago, decreasing the average wage there
e. fall in Indianapolis, decreasing the average wage there
B
Economics
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In January, suppose that a share of stock in Meyer, Inc had a price of $50 and that each share entitled its owner to $2 of Meyer, Inc's profit. During the year, the price of a share of Meyer's stock rose to $100
The interest rate paid on the share in January was ________ percent. A) 2 B) 0.02 C) 4 D) 25
Economics
Refer to Scenario 14.2. What is the marginal revenue product of the 4th worker?
A) 20 B) 25 C) 30 D) 32.5 E) 35
Economics