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Suppose that the labor market for engineers in the United States is currently in equilibrium. Due to economic expansion in the rest of the world,
Suppose that the labor market for engineers in the United States is currently in equilibrium. Due to economic expansion in the rest of the world, wages of engineers increase in different countries. In the U.S. labor market, this will decrease the supply of labor. As a result of this, the wage rate will and the equilibrium quantity of engineers (in the U.S. market) will
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