If wage rates are set in long-term contracts and suddenly the demand for labour decreases,then
A) the quantity demanded is more than the quantity supplied.
B) the equilibrium wage rises to equate demand and supply.
C) there is no change.
D) the quantity demanded is less than the quantity supplied.
E) there is a shortage of labour.
Correct Answer:
Verified
Q134: A price ceiling is
A)the lower bound that
Q135: Research conducted for the Productivity Commission suggests
Q136: Which of the following is an example
Q137: Suppose the price in a market does
Q138: If the minimum wage is set above
Q139: A price floor is
A)the lower bound that
Q140: Minimum wage laws are an example of
A)a
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