Which of the following will lead to an increase in the equilibrium quantity of workers hired and a decrease in the equilibrium wage rate?
A) an increase in the productivity of workers
B) an increase in the rate of immigration
C) a decrease in the price level of goods
D) a decrease in the rate of immigration

Question

Quizplus · Accepted Answer

An increase in the rate of immigration increases the supply of labor, leading to a higher equilibrium quantity of workers hired and a lower equilibrium wage rate due to the increased competition among workers.

Which of the Following Will Lead to an Increase in the Equilibrium