According to the United Kingdoms Office for National Statistics, the median gross pay for an aircraft pilot

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According to the United Kingdom’s Office for National Statistics, the median gross pay for an aircraft pilot was £86,915 per annum in 2016, up from £71,555 per annum in 2011. All else equal, such an increase in wages would be expected to reduce the quantity of labor demanded and employment would decrease. Instead, the quantity demanded for labor has since increased in the United Kingdom. How can you explain this phenomena?

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Principles Of Economics

ISBN: 9781292294698

13th Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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