Which of the following is a correct statement about the labor market?
A) Price controls are absent from the labor market, just as they are absent from many markets in the economy.
B) "The labor market" really consists of a multitude of labor markets for different types of workers.
C) Workers determine the demand for labor, and firms determine the supply of labor.
D) The forces of supply and demand, while present in the labor market, have nothing to balance in that market.
Correct Answer:
Verified
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