Scenario: Truck drivers across the country are on strike in an effort to negotiate higher wages. Currently the labor market in this industry clears at WM and QM, as shown in the figure below.

-Refer to the scenario above.New technologies allows trucks to drive without drivers.What is a likely consequence?
A) Wages for drivers will increase as their profession shrinks and skills become harder to find.
B) Wages for drivers will remain the same, because fewer drivers are needed but they are unlikely to accept wage cuts.
C) Wages for drivers will decrease, because fewer people will chose to become drivers.
D) Wages for drivers will decrease, because there will be less demand for drivers.
Correct Answer:
Verified
Q229: The following figure shows curves for labor
Q230: The natural rate of unemployment _.
A) is
Q231: The figure below shows labor supply and
Q232: The following figure shows wage rate versus
Q233: The figure below shows labor supply and
Q235: The following table shows some labor statistics
Q236: The following figure shows wage rate versus
Q237: The following figure shows wage rate versus
Q238: The following table shows some labor statistics
Q239: The following figure shows wage rate versus
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