Which of the events increase the equilibrium quantity of labor and which decrease the equilibrium quantity of
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Which of the events increase the equilibrium quantity of labor and which decrease the equilibrium quantity of labor?
Use the following list of events that occur one at a time to work Problem.
- The Middle East cuts supplies of oil to the United States.
- The New York Yankees win the World Series.
- U.S. labor unions negotiate wage hikes that affect all workers.
- A huge scientific breakthrough doubles the output that an additional hour of U.S. labor can produce.
- Migration to the United States increases the working-age population.
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