Question
Draw a labour market diagram that represents the supply and demand of labour and explain why one of the curves is upward sloping and one
Draw a labour market diagram that represents the supply and demand of labour and explain why one of the curves is upward sloping and one downward sloping. On this graph, represent a labour shortage and explain the relationship between a labour shortage and the level of wage paid by firms. What employment policy would you recommend to reduce the labour shortage?
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
