Multiple Choice
Which of the following is not adequately explained by the labor-supply-and-demand model?
A) The increase in the employed labor force during economic expansions
B) The effect of lower wages on the incentive for firms to hire more people
C) Why there is always some unemployment
D) Why real wages rise during economic expansions
E) The effect of higher wages on the incentive for people to work more hours
Correct Answer:
Verified
Correct Answer:
Verified
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