Answer to Question #196399 in Macroeconomics for karabo

Question

Restricting entry into an occupation will ________ supply into that occupation and ________ wages.

A.     Increase; increase.

B.     Increase; decrease.

C.     Decrease; increase .

D.     Decrease; decrease.

Decrease; not change

Answer 1

Restricting entry into an occupation will decrease supply into that occupation and increase wages.

Therefore the right choice is

C.     Decrease; increase .