Consider the following diagram representing the labor market in a given Country, with foreigners willing to supply labor at $100'000. Suppose that the government allows 85'000 foreign workers to enter the country. What happens to the equilibrium wage (in the short run)? W S 00 120'000 100'000 30'000 O It will be greater than 120'000 It will be less than 100'000 O It will be equal to 100'000 O It will be greater than 100'000 70'000 D

Consider the following diagram representing the labor market in a given Country, with foreigners willing to supply labor at $100'000. Suppose that the government allows 85'000 foreign workers to enter the country. What happens to the equilibrium wage (in the short run)? W S 00 120'000 100'000 30'000 O It will be greater than 120'000 It will be less than 100'000 O It will be equal to 100'000 O It will be greater than 100'000 70'000 D

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter16: The Markets For Labor, Capital, And Land

Section: Chapter Questions

Problem 2P

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