Multiple Choice
Which of the following statements is true?
A) At the equilibrium wage rate, the quantity of labor demanded exceeds the quantity of labor supplied.
B) At the equilibrium wage rate, the quantity of labor supplied exceeds the quantity of labor demanded.
C) At wages above the equilibrium wage rate, the quantity of labor supplied exceeds the quantity of labor demanded.
D) At wages below the equilibrium wage rate, the quantity of labor supplied exceeds the quantity of labor demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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