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drew911811 drew911811
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A month ago
The following figure shows wage rate versus quantity of labor.




Refer to the figure above. If the economy then goes into a recession, what will happen to the demand for labor and the wage rate?

▸ Demand for labor will remain the same, and the wage rate will decrease.

▸ Demand for labor will decrease, and the wage rate will remain about the same.

▸ Demand for labor will decrease, and the wage rate will decrease.

▸ Demand for labor will increase, and the wage rate will increase.
Textbook 

Macroeconomics


Edition: 3rd
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live4outdoorslive4outdoors
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Demand for labor will decrease, and the wage rate will remain about the same.

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