An increase in the population and hence the supply of labor causes a
A) surplus of labor at the original real wage rate and the real wage rate will fall.
B) shortage of labor at the original real wage rate and the real wage rate will fall.
C) surplus of labor at the original real wage rate and the real wage rate will rise.
D) shortage of labor at the original real wage rate and the real wage rate will rise.
Correct Answer:
Verified
Q141: If the demand for labor increases
I. employment
Q160: Labor productivity is measured by
A) capital per
Q161: Q162: Q163: An increase in labor productivity the real Q164: The graphs below depict the production function Q166: The graphs below depict the production function Q167: The graphs below depict the production function Q168: An advance in technology increases the productivity Q169: If the population increases, then potential GDP
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