Multiple Choice
Suppose the equilibrium wage rate in the labor market is $20 and the demand for labor decreases. If wages are sticky, there will be a
A) surplus of labor and the wage rate declines.
B) shortage of labor and the wage rate increases.
C) surplus of labor and the wage rate stays the same.
D) surplus of labor and the wage rate increases.
Correct Answer:
Verified
Correct Answer:
Verified
Q172: The type of unemployment that arises during
Q173: Refer to the information provided in Figure
Q174: The _ contributes to a _ unemployment
Q175: According to the _ explanation of unemployment,
Q176: Refer to the information provided in Figure
Q178: Changes in the price level don't affect
Q179: As the unemployment rate decreases in response
Q180: If wages are sticky, a decrease in
Q181: If the relationship between the change in
Q182: If inflationary expectations decrease, the Phillips curve