Which of the following statements is true?
A) At wages below the equilibrium wage rate, quantity demanded of labor exceeds the quantity supplied of labor.
B) At wages above the equilibrium wage rate, quantity demanded of labor exceeds the quantity supplied of labor.
C) At the equilibrium wage rate, quantity demanded of labor exceeds the quantity supplied of labor.
D) At the equilibrium wage rate, quantity supplied of labor exceeds the quantity demanded of labor.
A
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How do you suppose most people form an expectation of future inflation? Is that method consistent with the assumption of adaptive expectations?
What will be an ideal response?
In the 48-year period of 1960 to 2008 , the approximate shares of U.S. GDP are
a. consumption 15 percent; investment 65 percent; government 20 percent; net exports zero b. consumption 20 percent; investment 65 percent; government zero; net exports 15 percent c. consumption 65 percent; investment 15 percent; government 20 percent; net exports zero d. consumption 65 percent; investment zero; government 20 percent; net exports 15 percent e. consumption 15 percent; investment 20 percent; government 65 percent; net exports zero
Gold is a perfect medium of exchange and measure of value because of its:
A. divisibility, portability, and homogeneity. B. divisibility and durability. C. durability and relative scarcity. D. durability and homogeneity.
Without trade, the consumption possibilities for two nations are:
A. outside their production possibilities curve. B. inside their production possibilities curve. C. along their production possibilities curve. D. at a point equal to the world production possibilities curve.