Consider an economy where population increases, which in turn causes both the demand for goods and services and the supply of labour to increase.
a. In a labour supply and demand diagram, analyze the effects of the increase in population on the equilibrium wage and employment.
b. What happens to wage and unemployment if a minimum-wage law exists?

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The Answer of Consider an economy where population increases, which in turn causes both the demand for goods and services and the supply of labour to increase.
a. In a labour supply and demand diagram, analyze the effects of the increase in population on the equilibrium wage and employment.
b. What happens to wage and unemployment if a minimum-wage law exists?

Consider an Economy Where Population Increases, Which in Turn Causes