Question:

How does global outsourcing of US jobs effect the equilibrium value of wages?

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as i understand the labor supply in the US will increase... what are the other economic effects of this?

Also how do rising gas prices effect equilibrium Wage and Eq Quant of Labor??

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  1. US export jobs thus reducing demand for jobs inside US and consequently lowers US jobs equilibrium quantity and wages level. But at the same time this reduces costs of production and increases production volume (shifts aggregate supply right).

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