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Business, 17.03.2020 00:32 alecnewman2002

An increase in the number of available workers shifts the labor supply to the right by 30 hours worked. You will use the information provided above to identify the effect of this increase on the equilibrium wage rate, level of employment, value of Potential GDP, and worker productivity (defined, here, as potential output per hour worked). Identify and quantify the effect of this increase in the number of available workers on: 1) the equilibrium wage rate, 2) the level of employment, 3) the value of Potential GDP, and 4) the value of worker productivity. Round all answers to the nearest one-hundredth.

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An increase in the number of available workers shifts the labor supply to the right by 30 hours work...

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