Scenario 18-5 Suppose That Workers from Northern Minnesota, North Dakota, and Montana

question 265

Multiple Choice

Scenario 18-5
Suppose that workers from northern Minnesota, North Dakota, and Montana decide to emigrate to southern Canada.
-Refer to Scenario 18-5. In the labor market in the northern United States, the equilibrium wage

• A)and the equilibrium quantity of labor will rise.
• B)and the equilibrium quantity of labor will fall.
• C)will rise, and the equilibrium quantity of labor will fall.
• D)will fall, and the equilibrium quantity of labor will rise.

---

Definitions:

Real Disposable Income

The income of individuals or the nation after adjusting for inflation, representing the amount of money that households have available for spending and saving after income taxes have been accounted for.

U.S. Exports

Goods or services produced within the United States and sold to buyers in other countries, contributing to the country's economy.

Net Exports

The difference between a country's total value of exports and total value of imports.

Real Domestic Income

The total income of a country's residents and businesses adjusted for inflation, reflecting the real purchasing power.