Question
When other labor markets that are relatively close have higher wage rates than the local labor market, the equilibrium wage rate in the local job
When other labor markets that are relatively close have higher wage rates than the local labor market, the equilibrium wage rate in the local job market will _____ and the equilibrium quantity of labor in the local labor market will _____.
A. decrease, decrease
B. decrease, increase
C. increase, decrease
D. increase, increase
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Economics
Authors: R. Glenn Hubbard
6th edition
978-0134797731, 134797736, 978-0134106243
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