Multiple Choice
If the labor supply and demand curves cross at a wage of $20,
A) a wage rate of $10 per hour would lead to an excess demand for labor
B) a wage rate of $10 per hour would lead to an excess supply of labor
C) that wage causes a high rate of cyclical unemployment
D) employees are overpaid
E) a wage rate of $10 per hour would mean there is a significant amount of structural unemployment
Correct Answer:
Verified
Correct Answer:
Verified
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