Multiple Choice
The figure below shows the labor demand and labor supply curves for an economy.
-Refer to the figure above.The labor market is currently at point E.Which of the following is likely to happen if a recession hits the economy,assuming that wages are flexible?
A) The labor market equilibrium will move from point E to point G.
B) The labor market equilibrium will move from point E to point H.
C) The labor market equilibrium will move from point E to point D.
D) The labor market equilibrium will move from point E to point F.
Correct Answer:
Verified
Correct Answer:
Verified
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