Answer
a) The wages would likely be the same. If there is more supply for one industry over another, then the wages would be lower in that industry (and then more people would gravitate toward the industry with higher wages, bringing the two wages to the same level).
b) Auto workers would see a decrease in their pay, and airplane workers would possibly see an increase in their pay. Fewer auto workers would be employed (due to the lower demand for automobiles). More airplane workers would be employed (since the economy exports airplanes).
Work Step by Step
c) For the short run, the wages of auto workers would decrease, and the wages of airplane workers would increase. In the long run, more workers will enter both industries, so there will be an eventual leveling off of wages in both industries.
d) If the wages don't adjust to the new equilibrium, then there would likely be not enough workers in the airplane industry and too many workers in the automobile industry.
