Assume that the real wage in an economy is held above equilibrium.
a.Graphically illustrate how an increase in technology that raises the demand for labour will change the number of unemployed workers. Be sure to label the axes and the quantities of labour hired before and after the technological progress.
b.Explain in words what happens to the number of unemployed as a result of this change.

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The Answer of Assume that the real wage in an economy is held above equilibrium.
a.Graphically illustrate how an increase in technology that raises the demand for labour will change the number of unemployed workers. Be sure to label the axes and the quantities of labour hired before and after the technological progress.
b.Explain in words what happens to the number of unemployed as a result of this change.

Assume That the Real Wage in an Economy Is Held