Multiple Choice
A surplus in the labor market indicates that the
A) real wage rate is above the equilibrium wage rate but it is too low to eliminate the surplus of labor.
B) quantity of labor demanded is less than the quantity of labor supplied.
C) real wage rate has to rise before the labor market will reach equilibrium.
D) workers are not looking for work because they enjoy their leisure time.
E) real wage rate is less than the equilibrium wage rate.
Correct Answer:
Verified
Correct Answer:
Verified
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