The figure to the right illustrates the causes and effects of international labor mobility between two countries, Home and Foreign (*). MPL The horizontal axis represents the total world labor force. The workers employed in Home are MPL measured from the left, the workers employed in Foreign from the right. The left vertical axis shows the marginal product of labor in Home; the right vertical axis shows the marginal product of labor in Foreign. De B Suppose the initial allocation of labor has OL workers in Home and 0*L workers in Foreign. Given this initial allocation, labor can be expected to E O A. remain situated where it currently resides. O B. migrate from Home to Foreign. OC. migrate from Foreign to Home. Foreign employment O D. migrate toward the higher nominal wage. Home L2 employment From the perspective of the world economy, this migration of labor is desirable since Total world labor force O A. total world output rises by BAC. O B. Foreign rids itself of disgruntled workers. O C. total world output rises by L2L°DA. O D. total world output rises by DAE.

The figure to the right illustrates the causes and effects of international labor mobility between two countries, Home and Foreign (). MPL The horizontal axis represents the total world labor force. The workers employed in Home are MPL measured from the left, the workers employed in Foreign from the right. The left vertical axis shows the marginal product of labor in Home; the right vertical axis shows the marginal product of labor in Foreign. De B Suppose the initial allocation of labor has OL workers in Home and 0L workers in Foreign. Given this initial allocation, labor can be expected to E O A. remain situated where it currently resides. O B. migrate from Home to Foreign. OC. migrate from Foreign to Home. Foreign employment O D. migrate toward the higher nominal wage. Home L2 employment From the perspective of the world economy, this migration of labor is desirable since Total world labor force O A. total world output rises by BAC. O B. Foreign rids itself of disgruntled workers. O C. total world output rises by L2L°DA. O D. total world output rises by DAE.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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