-Refer to Figure 8-1.If the real hourly wage rate was $6,what would be the effect?
A) There would be a shortage of 40 million workers and the wage rate would rise.
B) There would be a shortage of 20 million workers and the wage rate would rise.
C) There would be a surplus of 40 million workers and the wage rate would fall.
D) There would be a surplus of 20 million workers and the wage rate would fall.
E) There would be unemployment.

Question

-Refer to Figure 8-1.If the real hourly wage rate was $6,what would be the effect?
A) There would be a shortage of 40 million workers and the wage rate would rise. 
B) There would be a shortage of 20 million workers and the wage rate would rise. 
C) There would be a surplus of 40 million workers and the wage rate would fall. 
D) There would be a surplus of 20 million workers and the wage rate would fall. 
E) There would be unemployment.

Quizplus · Accepted Answer

The Answer of 
-Refer to Figure 8-1.If the real hourly wage rate was $6,what would be the effect?
A) There would be a shortage of 40 million workers and the wage rate would rise. 
B) There would be a shortage of 20 million workers and the wage rate would rise. 
C) There would be a surplus of 40 million workers and the wage rate would fall. 
D) There would be a surplus of 20 million workers and the wage rate would fall. 
E) There would be unemployment.