Multiple Choice
The figure above shows a labor market with an income tax.
-According to the figure above, if there is no income tax, the equilibrium real wage rate is ________ and the equilibrium hours of labor are ________.
A) $20; 200 billion
B) $30; 250 billion
C) $35; 200 billion
D) $30; 200 billion
E) The equilibrium is not shown.
Correct Answer:
Verified
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