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4 years ago

An increase in the population the real wage rate and the equilibrium quantity of labor.

Business

1 answer:

stealth61 [152]4 years ago

8 0

Answer:

An increase in the population decrease the real wage rate and increase the equilibrium quantity of labor.

Explanation:

Thinking in the graph of the labor market where combines hour real wage with the quantity of labor, if we increase the population , that means the demand of labor will increase so, the wage will decrease.

The equilibrium is where the quantity demanded of labor is equal to the quantity supplied.

So, if the if the population increase the equilibrium quantity of labor will increase.

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3 years ago

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<u />

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3 years ago

Betsy Strand’s regular hourly wage rate is $24, and she receives an hourly rate of $36 for work in excess of 40 hours. During a

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<h3>Betsy’s gross earnings for January period is $1,140 </h3><h3>Betsy’s net pay for January period is $966.79 </h3>

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Betsy Strand’s regular hourly wage rate = $24
Betsy Strand’s hourly rate for work in excess of 40 hours = $36
Betsy works during a January pay period = 45 hours.
Betsy's pay for January period = $24 * 40 + $36 * 5
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Betsy’s gross earnings for January period is $1,140

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Betsy’s net pay for January period is $966.79

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3 years ago

An increase in the population​ ______ the real wage rate and​ ______ the equilibrium quantity of labor.

An increase in the population the real wage rate and the equilibrium quantity of labor.