0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why does an advance in technology increase supply?
because labor's or capital's productivity increases and costs of production fall
What Best explains the effect of immigration in the labor market?
buy one get one free
What are the effects of migration on the labor force?
Immigration increases the supply of labor
Which way will an increase in labor cost shift the supply curve?
An increase in labor cost will decrease supply, so the supply curve will shift left.
Which explains why immigration can lead to be decrease in wages?
Immigration increases the supply of labor.
Why is the long run aggregate supply model curve vertical?
It is the ideal aggregate supply, where all the resources and labor are being used fully. Because of this, the supply can't have a horizontal aspect, because it would mean a possibility for an increase in GDP, which can't be sustained unless the whole equilibrium moves to adjust to a change in long-run AS. Production cannot increase, so only price can change, which is on the vertical axis, making the line vertical.
How do wages effect on labor supply?
A higher wage will increase the quantity supplied of labor, however it will not affect the entire labor supply curve. As for individual industries, it depends on the specific labor elasticity. If the Supply is inelastic, a relatively large change in wage will yield a relatively small change in quantity supplied. However, if the labor supply is elastic, a relatively small wage increase will return a relatively large quantity increase.
What best explains why globalization has led to wage cuts in some jobs in the US?
Outsourcing increases the domestic supply of workers, driving down the price of labor.Outsourcing
What will cause the capital stock when it increases?
Increases in the stock of capital will cause which of the following?The demand of labor increases.The demand of labor decreases.Selected answer No change in the demand of labor.First increase then decrease the demand of labor
How does wage increases affect the demand for and supply of labor?
wages will go down because productivity is lower
What happens to the PPF when there is an increase in resources?
An increase in resources, such as a growth in the labor supply or in the capital stock, shifts the frontier outward.
What immigration can result in an increase in the supply of labor immigration can result in?
A general decrease in wages. - Apex
