Suppose That Workers Immigrate to Minnesota from Canada

question 174

Multiple Choice

Suppose that workers immigrate to Minnesota from Canada. Which of the following correctly describes what would happen in the market for labor in Minnesota?

• A)The equilibrium wage would increase, and the quantity of labor would increase.With more workers, the added output from an extra worker is larger.
• B)The equilibrium wage would decrease, and the quantity of labor would decrease.With fewer workers, the added output from an extra worker is smaller.
• C)The equilibrium wage would decrease, and the quantity of labor would increase.With more workers, the added output from an extra worker is smaller.
• D)The equilibrium wage would decrease, and the quantity of labor would increase.With more workers, the added output from an extra worker is larger.

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Definitions:

FIFO Cost Flow

An inventory valuation method where the cost of goods sold is based on the cost of the oldest inventory items, with the assumption that the oldest items are sold first.

Cost of Goods Sold

Costs directly linked to the creation of goods sold by a firm, encompassing both materials and labor.

Laptop Computers

Portable personal computers suitable for mobile use, integrating most of the typical components of a desktop computer.

Net Realizable Value

The estimated selling price of goods minus the cost of their sale or disposal, used in evaluating inventory value.