Solved

-Refer to Figure 9-1

Question 32

Multiple Choice

-Refer to Figure 9-1.If labor supply shifts from S₂ to S₁,what will happen to the real hourly wage rate? A) It will remain constant and employment will increase to 130 million B) It will rise to $15 and employment will increase to 120 million C) It will rise to $10 and employment will remain at 110 million D) It will rise to $15 and employment will remain at 110 million E) It will rise to $20 and employment will fall to 110 million
-Refer to Figure 9-1.If labor supply shifts from S₂ to S₁,what will happen to the real hourly wage rate?


A) It will remain constant and employment will increase to 130 million
B) It will rise to $15 and employment will increase to 120 million
C) It will rise to $10 and employment will remain at 110 million
D) It will rise to $15 and employment will remain at 110 million
E) It will rise to $20 and employment will fall to 110 million

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q27: If labor supply and labor demand both

Q28: Growth in employment can result
A) from an

Q29: Which of the following is a reason

Q30: Economists who focus on long-run growth suggest

Q31: If the labor demand decreases,what will happen

Q33: Which of the following would lead to

Q34: -Refer to Figure</p></div><svg width=

Q35: If you observed that the both the

Q36: Which combination of government policies would be

Q37: Everything else equal,an increase in the demand

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents