Supply and demand
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1. Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or decrease the supply of labor. Use the readings and/or the internet for examples.
2. Immigration is a major topic of concern in today's economy. What are the possible problems and solutions for these concerns? What could happen to the U.S. labor markets if immigration is not controlled?
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Supply and demand
1. Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or decrease the supply of labor. Use the readings and/or the internet for examples.
One factor would be the cost of labor if the cost of labor increases because of a decrease in workforce, there would be a decrease in demand for labor. Similarly, if there is a decrease in costs because of an increase in the size of the work force there will be an increase in demand for labor.
The second factor is a change in the demand for goods and commodities. As the demand for labor is a derived demand if there is an increase in the demand for goods and commodities, there will ...
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