Asked by Vishal Sharma on Jul 01, 2024
Verified
An increase in immigration will lower the equilibrium wage, all else held constant.
Equilibrium Wage
The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers, resulting in a stable labor market condition.
Immigration
The action of coming to live permanently in a foreign country.
- Ascertain the factors responsible for modifications in the labor demand and supply curves.
Verified Answer
BO
bushra omran6 days ago
Final Answer :
True
Explanation :
An increase in immigration increases the supply of labor. According to basic economic principles, an increase in supply, with demand remaining constant, will lead to a decrease in the price of labor, which in this context is the equilibrium wage.
Learning Objectives
- Ascertain the factors responsible for modifications in the labor demand and supply curves.
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