When other labor markets that are relatively close have higher wage rates than the local labor market,

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When other labor markets that are relatively close have higher wage rates than the local labor market, the equilibrium wage rate in the local job market will _____ and the equilibrium quantity of labor in the local labor market will _____.

A. decrease, decrease

B. decrease, increase

C. increase, decrease

D. increase, increase

Related Book For answer-question

Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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Posted Date: Mar 12, 2019 10:05 AM

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When other labor markets that are relatively close have higher wage rates than the local labor market,

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The correct answer is C increase decrease Suppose rel... View the full answer

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