If unskilled domestic workers and unskilled foreign workers are substitutes in the production process, then a more open foreign worker policy is likely to result in all of the following except: (A). The total supply of unskilled labor will shift outward. (B). The equilibrium wage rate in the market will decrease. (C). The total workforce will increase (D). The level of wages received by domestic workers will decrease. (E). The labor demand curve will shift to the right.
If unskilled domestic workers and unskilled foreign workers are substitutes in the production process, then a more open foreign worker policy is likely to result in all of the following except: (A). The total supply of unskilled labor will shift outward. (B). The equilibrium wage rate in the market will decrease. (C). The total workforce will increase (D). The level of wages received by domestic workers will decrease. (E). The labor demand curve will shift to the right.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
10. If unskilled domestic workers and unskilled foreign workers are substitutes in the production process, then a more open foreign worker policy is likely to result in all of the following except:
(A). The total supply of unskilled labor will shift outward.
(B). The equilibrium wage rate in the market will decrease.
(C). The total workforce will increase
(D). The level of wages received by domestic workers will decrease.
(E). The labor
Choose one of the answers from the five choices provided. And please, also provide a brief description, explanation or argument for your choice. Thank you Bartleby!
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education