If there is both a decrease in immigration and an increase in workers' non-wage incomes,
a. the supply of labor will increase
b. the supply of labor will decrease.
c. the supply of labor will remain unchanged.
d. the effect on the supply of labor will be indeterminate.
b
Economics
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Real GDP can increase either because the quantity of labor increases or because labor productivity increases. What is the effect on the standard of living if real GDP increases because
a. the quantity of labor increases? b. labor productivity increases?
Economics
The unregulated, single-price monopolist illustrated in the figure above will produce
A) 0 units per day. B) 4 units per day. C) 6 units per day. D) 9 units per day.
Economics