Consider a labor market in equilibrium. If the demand curve shifts to the left while the supply curve shifts to the left, then the number of workers hired in the market will ________.

Question

Quizplus · Accepted Answer

When both the demand and supply curves shift to the left, there is a decrease in both the quantity demanded and the quantity supplied. As a result, the equilibrium wage rate and the number of workers hired in the market will decrease. Therefore, the answer is B, decrease.

Consider a Labor Market in Equilibrium