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The Labour Market in the Diagram Below Begins in Equilibrium

Question 32

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The labour market in the diagram below begins in equilibrium with a real wage of $10 and quantity employed of 1000. The labour market in the diagram below begins in equilibrium with a real wage of $10 and quantity employed of 1000. FIGURE 30-1 Refer to Figure 30-1.Given the labour supply and labour demand curves, and ,which of the following statements is true in the market-clearing theory of unemployment? A) At any wage above $10,there is an excess demand for labour,and the wage will be driven down. B) At any wage above $10,there is an excess supply of labour,and the wage will be driven down. C) At any wage above $10,there is persistent,involuntary unemployment. D) At any wage below $10,there is an excess supply of labour,and the wage will be driven up. E) At any wage below $10,there is an excess demand for labour,and the wage will be driven down. FIGURE 30-1 Refer to Figure 30-1.Given the labour supply and labour demand curves, The labour market in the diagram below begins in equilibrium with a real wage of $10 and quantity employed of 1000. FIGURE 30-1 Refer to Figure 30-1.Given the labour supply and labour demand curves, and ,which of the following statements is true in the market-clearing theory of unemployment? A) At any wage above $10,there is an excess demand for labour,and the wage will be driven down. B) At any wage above $10,there is an excess supply of labour,and the wage will be driven down. C) At any wage above $10,there is persistent,involuntary unemployment. D) At any wage below $10,there is an excess supply of labour,and the wage will be driven up. E) At any wage below $10,there is an excess demand for labour,and the wage will be driven down. and The labour market in the diagram below begins in equilibrium with a real wage of $10 and quantity employed of 1000. FIGURE 30-1 Refer to Figure 30-1.Given the labour supply and labour demand curves, and ,which of the following statements is true in the market-clearing theory of unemployment? A) At any wage above $10,there is an excess demand for labour,and the wage will be driven down. B) At any wage above $10,there is an excess supply of labour,and the wage will be driven down. C) At any wage above $10,there is persistent,involuntary unemployment. D) At any wage below $10,there is an excess supply of labour,and the wage will be driven up. E) At any wage below $10,there is an excess demand for labour,and the wage will be driven down. ,which of the following statements is true in the market-clearing theory of unemployment?


A) At any wage above $10,there is an excess demand for labour,and the wage will be driven down.
B) At any wage above $10,there is an excess supply of labour,and the wage will be driven down.
C) At any wage above $10,there is persistent,involuntary unemployment.
D) At any wage below $10,there is an excess supply of labour,and the wage will be driven up.
E) At any wage below $10,there is an excess demand for labour,and the wage will be driven down.

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