The equilibrium wage rate is determined by
A. Market labor supply and market labor demand.
B. Labor unions.
C. Firms but not individuals.
D. Individuals but not firms.
Answer: A
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Policymakers use _____ policy and _____ policy to stabilize _____ and _____ in the short run
Fill in the blank(s) with correct word
Which of the following individuals would be considered unemployed by the official government definition?
a. George, a mathematician, who returned to graduate school after failing to find a job the last four months b. Gwen, a medical student, who is still in college and is not working c. Morgan, who is employed part-time but desires a full-time job d. Ralph, an auto worker who was laid off at a General Motors plant and is looking for another job
If a household's income doubles, its budget constraint will
A. be unaffected. B. shift out parallel to the old one. C. pivot at the Y-intercept. D. shift in parallel to the old one.
The best example of a public good is:
A. government-subsidized lunches. B. national defense. C. pollution. D. competition.