Question

1. Labour Market. Draw a diagram of the labour market where there above the equilibrium level. Use I to denote the amount of
0 0
Add a comment Improve this question Transcribed image text
Answer #1


1. Demand for labour is an inverse function of the real wage rate. At a higher wage rate less workers are demanded and at lowsupply of labor. But the wage rate will stay at W. Those who are willing to work will be fully employed. Price level LRAS SRAsupply increase and it continues till the economy reaches to its fullemployment at Yf. MS MSI Ril - M MI The money market is

Add a comment
Know the answer?
Add Answer to:
1. Labour Market. Draw a diagram of the labour market where there above the equilibrium level....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT