Suppose that we observe that wages are falling while output is increasing. Holding the demand for output constant, what might cause this to happen?
What will be an ideal response?
Something must have shifted the labor supply curve to the right. This could have been due to any number of things. One possibility could be an increase in the population, and hence, in the potential labor force.
Economics
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An example of a monopoly would be
A) one of many U.S. wheat farmers. B) one of the few U.S. auto makers. C) AT&T cell phone service. D) the local water company. E) Taco Bell
Economics
The other name for the National Labor Relations Act of 1935 is
A) the Wagner Act. B) the Taft-Hartley Act. C) the Clayton Act. D) the Wheeler-Lea Act.
Economics