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Author Question: Assumptions of Classical EconomicsWage Rate Supply of Labor Original Demand or Labor New Demand for ... (Read 43 times)

mccallkeeler

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on: Nov 23, 2022
Assumptions of Classical Economics


Wage Rate  Supply
 of Labor		 Original Demand
        or Labor		  New Demand
      for Labor
$21​570​570​280​
13​350​790​350​
       Labor data in the table are in millions of workers.


Refer to the data in the table. The demand for labor changes from the original demand to the new demand. If firms enter into implicit contracts with workers not to cut wages, then the wage rate will remain at $21 and employment will ________.
◦ remain at 570 million
◦ rise to 790 million
◦ fall to 280 million
◦ fall to 350 million
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by mccallkeeler on Nov 23, 2022

lhn821

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mccallkeeler

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Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

adf223

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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