In an industry that requires workers with specific skills, initially the market for labor is in equilibrium. Then a government-sponsored training program increases the number of qualified workers. In that scenario, equilibrium wage __________ and the quantity of workers employed __________.

In an industry that requires workers with specific skills, initially the market for labor is in equilibrium. Then a government-sponsored training program increases the number of qualified workers. In that scenario, equilibrium wage and the quantity of workers employed .

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Unemployment

Section20.3: Minimum-wage Laws

Problem 3QQ

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