Answer Happy

Draw a labour supply curve and a labour demand curve. Label them LS, and LD Draw a point at the equilibrium quantity of labour and the equilibrium real wage rate Label 1. Driew and label a curve that shows the effect of an increase in population Draw a point at the new equilibrium quantity of labour and the equilibrium real wage rate Labelit 2 potential GDP and potential GOP per hour of labour An increase in the population, OA increases, decreases OB decreases increases OC increases increases OD. decreases, decreases 20 404 10 30- 20 Real wage rate (2007 dolar per hour 100% 200 300 400 500 Labour of hours per year Draw only the objects specified in the question