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In the tables below are the demands for labor and the levels of domestic output that can be produced at each level of employment in two countries.
Country X
Real wage rate
Quantity of labor demanded
Real output
$12
140
$1680
11
160
1780
10
180
1880
9
200
1980
8
220
2080
7
240
2180
6
260
2280
Country Y
20
$ 240
40
480
60
540
80
880
100
1000
120
1100
1180
(a) What would the wage rates be if employment was 200 in country X and 140 in country Y?
For country X the wage rate would be 9, and country Y the wage rate would 6
(b) What would total wages paid and business incomes be in each country given employment conditions in (a)?
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