If the demand for labor is unchanged, population growth will increase the supply of labor and increase the equilibrium wage.

Name: If the demand for labor is unchanged, population growth will increase the supply of labor and increase the equilibrium wage.
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Question

Quizplus · Accepted Answer

Population growth may increase the supply of labor but if the demand for labor remains unchanged, the equilibrium wage will not increase. In fact, it may even decrease due to the increase in competition among workers for limited jobs.

If the Demand for Labor Is Unchanged, Population Growth Will