-The table above shows the labor market for the country of Pickett. When the labor market is in equilibrium, the real wage rate is _________and ___________of labor a year are employed.
A) any value less than $25 an hour; any value greater than 40 billion hours
B) any value greater than or equal to $25 an hour; any value less than 40 billion hours
C) $30 an hour; 40 billion hours
D) any value greater than $30 an hour; any value more than 40 billion hours
Correct Answer:
Verified
Q110: Q111: Q112: Q113: Equilibrium in the labor market Q114: If the labor market is in equilibrium Q116: If the real wage rate is such Q117: At the full-employment equilibrium in the labor Q118: When the quantity of labor demanded exceeds Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
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A) cannot occur