24. Suppose that Congress passes legislation that substantially increases the amount of semi- skilled labor allowed to e

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24 Suppose That Congress Passes Legislation That Substantially Increases The Amount Of Semi Skilled Labor Allowed To E 1 (28.35 KiB) Viewed 15 times

24. Suppose that Congress passes legislation that substantially increases the amount of semi- skilled labor allowed to enter the U.S., and that legislation is signed into law by the President. Which of the following statements correctly reflects the subsequent developments in the domestic U.S. shoe industry? a. Equilibrium price will decrease, and quantity will increase. b. Equilibrium price will increase, and the quantity will not change. c. Equilibrium price will decrease, and the quantity will not change. d. Neither equilibrium price nor quantity will be affected. e. none of the above statements is correct. c) to address a perceived shortag