Suppose Eastern European economies, following the collapse of Soviet power in Europe, begin to demand more farm goods from Canada. What impact, if any, would you expect this new demand to have on farm wage rates in Canada?
Answer to relevant QuestionsSuppose Zambian farmers begin to use more insecticides and chemical fertilizers. What impact would such uses, if successfully adopted, have on Zambian farm wage rates? If the United States and Mexico agree to free movement of workers across their borders, wage rates in some U.S. labor markets would fall, but wage rates in some Mexican labor markets would rise. Explain. How do unions change the supply curve of labor, and what effect does it have on the quantity of labor supplied and on the wage rate? The following table represents the David Narcizo Drum Company's MRP: Calculate the number of workers the firm will hire. What wage rate will workers receive? You don't have to work to be productive. Explain.
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