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What is the impact on the wage

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Assume a country where the workforce includes a large proportion of workers coming from other foreign countries. Due to the pandemics, borders have closed, and all these workers employed in a country, are going back to their home country. Assume that there is no minimum wage, and that the wage is determined by market conditions. It means that there is initially no unemployment. What is the impact of closing borders on the supply and demand of labour? What is the impact on the wage, the labour force, the employment rate, the unemployment rate?

Reference no: EM133078728

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