how does increase in wealth and working age population affect the labor supply curve
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Answer:
mark me as Brainlist
Explanation:
By the end of this section, you will be able to:
Predict shifts in the demand and supply curves of the labor market
Explain the impact of new technology on the demand and supply curves of the labor market
Explain price floors in the labor market such as minimum wage or a living wage
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Answer:
subsistance
Explanation:
The negative effect of population growth upon real wages is primarily attributed to increased labour supply which, ceteris paribus, causes the real wage to decline, unless either the demand for labour is perfectly elastic or the supply of labour is unlimited at the ruling 'subsistence' real wage.
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