An increase in labor supply will:
a. decrease the equilibrium wage rate and increase the number of workers hired.
b. increase the equilibrium wage rate and decrease the number of workers hired.
c. decrease both the equilibrium wage rate and the number of workers hired.
d. increase both the equilibrium wage rate and the number of workers hired.
a
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Sarah is a high school graduate and James is a college graduate. Which of the following statements is true?
A) Sara is likely to have more human capital than James. B) James is likely to have more human capital than Sara. C) Both Sara and James are likely to earn the same wage in the labor market. D) Both Sara and James are likely to have the same amount of human capital.
An increase in the number of producers of gruel ________ the supply of gruel and shifts the supply curve of gruel ________
A) increases; rightward B) increases; leftward C) decreases; rightward D) decreases; leftward