Multiple Choice
The one quirk that labor markets have, which helps explain why unemployment goes up so much in a recession is that:
A) A price floor called a "minimum wage law" exists for the labor market
B) Wages are flexible upward but "sticky" downward
C) Firms are "demanders" of labor, rather than suppliers
D) Machines could "replace" humans in the labor market
Correct Answer:
Verified
Correct Answer:
Verified
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