Question
If many more people become high school economics teachers, what will happen to the labor market for high school economics teachers?(1 point)
Responses
a The market equilibrium wage will increase, and the equilibrium quantity of labor will decrease.
b The market equilibrium wage will increase, and the equilibrium quantity of labor will increase.
c The market equilibrium wage will decrease, and the equilibrium quantity of labor will decrease.
d The market equilibrium wage will decrease, and the equilibrium quantity of labor will increase.
Responses
a The market equilibrium wage will increase, and the equilibrium quantity of labor will decrease.
b The market equilibrium wage will increase, and the equilibrium quantity of labor will increase.
c The market equilibrium wage will decrease, and the equilibrium quantity of labor will decrease.
d The market equilibrium wage will decrease, and the equilibrium quantity of labor will increase.
Answers
GPT 3.5
a The market equilibrium wage will increase, and the equilibrium quantity of labor will decrease.