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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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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