The equilibrium quantity of labor and the equilibrium wage level decrease when: a) labor demand shifts to the left, if wages are flexible. b) labor supply shifts to the left, if wages are flexible. c) labor supply shifts to the right, if wages are flexible. d) labor demand shifts to the right, if wages are flexible.
The equilibrium quantity of labor and the equilibrium wage level decrease when: a) labor demand shifts to the left, if wages are flexible. b) labor supply shifts to the left, if wages are flexible. c) labor supply shifts to the right, if wages are flexible. d) labor demand shifts to the right, if wages are flexible.
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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a) labor demand shifts to the left, if wages are flexible.
b) labor supply shifts to the left, if wages are flexible.
c) labor supply shifts to the right, if wages are flexible.
d) labor demand shifts to the right, if wages are flexible.
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