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A Surplus of Labor Is Eliminated by ________ in the Real

Question 211

Multiple Choice

A surplus of labor is eliminated by ________ in the real wage rate and a shortage of labor is eliminated by ________ in the real wage rate.


A) an increase;an increase
B) an increase;a decrease
C) a decrease;an increase
D) a decrease;a decrease
E) None of the above answers is correct because shortages and surpluses are eliminated by changes in the demand for labor and the supply of labor,not the wage rate.

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