When the labor market is in equilibrium so that the quantity of labor supplied equals the quantity demanded,
A) there is no unemployment.
B) there is no inflation.
C) nominal GDP equals real GDP.
D) the economy is at full employment.
E) real GDP might be more than, less than, or equal to potential GDP.
Correct Answer:
Verified
Q138: The unemployment rate at full employment is
A)zero.
B)equal
Q139: The existence of union wages, efficiency wages,
Q140: -------------adopts the view that aggregate fluctuations are
Q141: An efficiency wage is designed to
A)decrease the
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