Question attached The labour market in a particular country is characterized by the diagram below. The country'soriginal demand and supply curves for labour are represented by D, and S, respectively. Supposethe work ethic of the country's workers worsens over time resulting in a significant reduction inlabour productivity. What will be the results of this change?Real wage ratelWoDoD2L2 Lo 4Quantity of LabourSelect one:A. Employment and the real wage rate will remain unchangedB. Employment will increase to L1 and the real wage rate will rise to W1C. Employment will decrease to L2 and the real wage rate will fall to W2D. Employment will decrease to L2 but the real wage rate will fall to W1

Answered: the work ethic of the country's workers…

the work ethic of the country's workers worsens over time resulting in a significant reduction in labour productivity. What will be the results of this change?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question attached

The labour market in a particular country is characterized by the diagram below. The country's
original demand and supply curves for labour are represented by D, and S, respectively. Suppose
the work ethic of the country's workers worsens over time resulting in a significant reduction in
labour productivity. What will be the results of this change?
Real wage ratel
Wo
Do
D2
L2 Lo 4
Quantity of Labour
Select one:
A. Employment and the real wage rate will remain unchanged
B. Employment will increase to L1 and the real wage rate will rise to W1
C. Employment will decrease to L2 and the real wage rate will fall to W2
D. Employment will decrease to L2 but the real wage rate will fall to W1

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