A local labor market for lawn-mowing workers is initially in equilibrium. If there is an influx of

Question:

A local labor market for lawn-mowing workers is initially in equilibrium. If there is an influx of low-skill immigrants to the area, which of the following is likely to occur in the market for lawn-mowing workers?

a. Both labor demand and labor supply will decrease, leading to higher wages

b. Both labor demand and labor supply will increase, leading to lower wages

c. Labor demand will decrease, leading to lower wages

d. Labor supply will increase, leading to lower wages

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introduction To Economics Social Issues And Economic Thinking

ISBN: 9780470574782

1st Edition

Authors: Wendy A. Stock

See More Books

Question Posted: Oct 28, 2023 08:52 AM

See More Questions

The following graph shows the market for euros in terms of the Thai Baht. The market is initially in equilibrium at two baht per euro and 16 billion euros traded per day. Suppose the baht falls in...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
When developing a survey instrument for a cross-country study, market researchers often need to construct a scale (e. g., a 7-point disagree/agree scale). What are the major items that one should be...
When inflation and unemployment fell together in the 1990s, some observers claimed that policy makers no longer faced a trade-off between inflation and unemployment. Were they correct?
A recent annual report for AMERCO, the holding company for U-Haul International, Inc., included the following note: Property, Plant and Equipment Property, plant and equipment are stated at cost....
The hippocampus is crucial for forming new LTMs. Davachis fMRI experiment shows that the perirhinal cortex is involved in recognizing a stimulus as having been experienced earlier, whereas the...
In 2007 Chirac Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of common stock . Chirac had revenues of $17,500 and expenses other than interest and taxes of $8,400...
1) Charles wants to relocate to Florida. He decided to sell his rental property, which is located in Brooklyn, NY. Charles accepted the following terms: Charles received $1,200,000 in cash and was...
The accompanying graph shows the demand and supply for computer support workers in the U.S. At equilibrium, producer surplus is_______ per week. a. $12 b. $2,000 c. $24,000 d. $16,000 e $8,000 Wage...
What are some of the benefits of immigration? What are some of the costs?
Based on Exhibit 77, or use of a financial calculator, what would be the monthly mortgage payments for each of the following situations? a. A $160,000,15-year loan at 4.5 percent. b. A $215,000,...
Determine the specific major and foundational managerial discoveries and findings from each era as most pivotal for management evolution (Early Management Era, Social Management Era, Scientific...
Identify the three major pricing strategies and discuss the important key factors that impact setting prices. Explain what time of pricing strategy your assigned brand uses and why you believe this...
Locate a scholarly article relevant to how to present your financial plan for opening a Roller Skating Rink (from your draft business plan) to a lending institution--and describe your strategy for...
How would you expect seasonal fluctuations in demand to affect a rental company's decisions about pricing rented products such as wedding dresses or convertible cars? In terms of pricing principles,...
Do we drive technology, or does technology drive us? If technology drives us, what are the risks? The other side of the coin would be that we are able to stay ahead of technological transformations....
Briefly answer the following questions: 1. Consider the three basic techniques, iteration, indexing, and partitioning, and the relational algebra operators selection, projection, and join. For each...
Do public and private companies follow the same set of accounting rules? Explain.
Indicate which of the following taxes are generally progressive, proportional, or regressive: a. State income taxes b. Federal estate tax c. Corporate state franchise tax d. Property taxes e. State...
Carolyn operates a consulting business as a sole proprietor (unincorporated). Carolyn has been approached by one of her major clients to become an employee. If she accepts the new job, she would no...
During 2017, Julio attended school for much of the year but was supported by his parents. Julio married Jillian in December 2017. Julio graduated and began working full-time in 2018. Jillian worked...
In the weekly toam meeting one of your team members is presenting the results of the team's financial statement analysis to the supervisor. The team member commented. There are extremely positive...
company SHARKIYA DESALIN You are in the accounts manager of financial analyst at the company. Prepare the financial analysis of performance report and analysis of the company in the year 2020...
41. Maria purchased a building in 2010 that she uses in her business. Maria uses the straight-line method for the building. Maria's original cost for the building is $420,000 and cost-recovery...

A local labor market for lawn-mowing workers is initially in equilibrium. If there is an influx of

Question:

Step by Step Answer:

If there is an influx of lowskill immigrants to the area in the loca...View the full answer

Introduction To Economics Social Issues And Economic Thinking

Students also viewed these Business questions