The following figure shows the relationship befween employment and monthly salary in the periods 1968 to 1984. Copyrgte Mora aton Pemson requied tor reproduton or dapiay. Employment Monthly Salary (5) 250,000 4,500 230,000 4,000 210,000 190,000 3,500 170,000 150,000 3,000 130,000 2,500 110,000 Wage 90,000 2,000 70,000 Employment 50,000 1.500 1968 1970 1972 1974 1976 1978 1980 1982 1984 Using the labour supply - labour demand model, how can you rationalize the comovement between employment and wage in the period 1968-1976 The labour demand curve shifts to the left ) There is no way to rationalize the data ) The labour demand curve shifts to the right ) The labour supply curve shifts to the right The labour supply curve shifts to the left

The following figure shows the relationship befween employment and monthly salary in the periods 1968 to 1984. Copyrgte Mora aton Pemson requied tor reproduton or dapiay. Employment Monthly Salary (5) 250,000 4,500 230,000 4,000 210,000 190,000 3,500 170,000 150,000 3,000 130,000 2,500 110,000 Wage 90,000 2,000 70,000 Employment 50,000 1.500 1968 1970 1972 1974 1976 1978 1980 1982 1984 Using the labour supply - labour demand model, how can you rationalize the comovement between employment and wage in the period 1968-1976 The labour demand curve shifts to the left ) There is no way to rationalize the data ) The labour demand curve shifts to the right ) The labour supply curve shifts to the right The labour supply curve shifts to the left

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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