Asked by
Jessica Torres
on Nov 16, 2024
Verified
Suppose that workers immigrate to Minnesota from Canada. Which of the following correctly describes what would happen in the market for labor in Minnesota?
A) The equilibrium wage would increase, and the quantity of labor would increase.With more workers, the added output from an extra worker is larger.
B) The equilibrium wage would decrease, and the quantity of labor would decrease.With fewer workers, the added output from an extra worker is smaller.
C) The equilibrium wage would decrease, and the quantity of labor would increase.With more workers, the added output from an extra worker is smaller.
D) The equilibrium wage would decrease, and the quantity of labor would increase.With more workers, the added output from an extra worker is larger.
Equilibrium Wage
The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers, resulting in no labor surplus or shortage.
Immigrate
To immigrate means to move into a country from another one to live permanently.
Minnesota
A state in the Midwestern United States known for its lakes, forests, and vibrant cultural scene, as well as its contributions to industry, agriculture, and education.
- Assess how changes external to the economy, like immigration and sector desirability, affect the dynamics of labor markets.
Verified Answer
JS
Learning Objectives
- Assess how changes external to the economy, like immigration and sector desirability, affect the dynamics of labor markets.