curve, from LS1 to LS2. Assume there is no change in the labor demand curve. For each statement, select the graph that illustrates the appropriate shift. Graph A Graph B LS1 LS2 LS2 LS1 Quantity of labor Quantity of labor

curve, from LS1 to LS2. Assume there is no change in the labor demand curve. For each statement, select the graph that illustrates the appropriate shift. Graph A Graph B LS1 LS2 LS2 LS1 Quantity of labor Quantity of labor

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

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Please see below. Both pictures are part of the same question. The first picture contains the graph needed and the second one contains the questions being asked.

The graphs show the market labor supply (LS) curve for the country of Littleland. The two graphs show different shifts in the LS
curve, from LS1 to LS2. Assume there is no change in the labor demand curve. For each statement, select the graph that
illustrates the appropriate shift.
Graph A
Graph B
LS1
LS2
LS2
LS1
Quantity of labor
Quantity of labor
Wages

a. The equilibrium wage rate increases.
b. The equilibrium wage rate decreases.
Graph A
O Graph B
O Graph A
O Graph B
c. The government introduces a free childcare policy.
d. Immigration to Littleland increases.
с.
O Graph A
O Graph B
Graph A
O Graph B
f. The birthrate in Littleland decreases.
e. Emigration from Littleland increases.
O Graph A
O Graph B
O Graph A
O Graph B
g. The birthrate in Littleland increases.
Graph B.
Graph A
ing
0036

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