Consider the following figure to answer the following question. (Kenyan shillings per mo 20,000 15,000 12.000 10,000 20,000 36,000 30,000 45,000 Answer Suppose that the labor market is in equilibrium. The government has decided to implement a minimum wage of $10,000 Kenyan Shillings per month. How much does the number of hired change? (DL-3) a. Changes by 6000 units of labor b. Change by 9000 units of labor. c. Changes by 0 units of labor d. Changes by 15000 units of labor OA OB Supply OC Demand 60,000 Quantity D

Consider the following figure to answer the following question. (Kenyan shillings per mo 20,000 15,000 12.000 10,000 20,000 36,000 30,000 45,000 Answer Suppose that the labor market is in equilibrium. The government has decided to implement a minimum wage of $10,000 Kenyan Shillings per month. How much does the number of hired change? (DL-3) a. Changes by 6000 units of labor b. Change by 9000 units of labor. c. Changes by 0 units of labor d. Changes by 15000 units of labor OA OB Supply OC Demand 60,000 Quantity D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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How will each of the following scenarios impact the market for labour The country receives an influx of new immigrants. Using (Decrease wage rate, increase employment, employment unchanged, shift outwards/to the right, increase wage rate, wage rate unchanged, shift inwards/to the left, decrease employment, curve unchanged movement along the curve. a. Impact on demand for labour b. Impact on the supply of labour c. impact on age rate d. impact on employment rate.
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