Which of the following summarizes the impact of population growth on the labor m

Question

Which of the following summarizes the impact of population growth on the labor market? A.) This will increase the labor supply, reduce the equilibrium wage, and increase the quantity of labor demanded. B.) There will be an increase on the demand for labor. As a result the wage rate will rise and the quantity of workers supplied will decrease. C.) There will be an increase in the demand for jobs. This will result in an increase in the equilibrium wage rate and a movement along the labor supply curve. D.)There will be an increase in both the demand for labor and the supply of labor. As a result, the equilibrium wage will not change.

Explanation / Answer

Answer is

A) This will increase the labor supply,reduce the equilibrium wage,and increase the quantity of labor demand.

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