Suppose the current equilibrium real wage is $15 an hour. Which of the following is true?

a. A real wage above $15 an hour would lead to an excess demand for labor
b. A real wage above $15 an hour would lead to an excess supply of labor
c. The real wage must fall to prevent unemployment
d. The real wage must rise to prevent unemployment
e. A real wage below $15 an hour would lead to an excess supply of labor


B

Economics

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The accounting system requires that the current account and the financial account sum to ________

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What a firm must pay for its inputs is referred to as its:

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The relationship between the wage rate and the quantity of labor that employers wish to hire in total is called: a. the market supply curve for labor

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Economics