When the labor market is in equilibrium, i. the quantity demanded of labor equals the quantity supplied.
Ii. there is full employment.
Iii. potential GDP is produced.

Name: When the labor market is in equilibrium, i. the quantity demanded of labor equals the quantity supplied. Ii. there is full employment. Iii. potential GDP is produced.
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In labor market equilibrium, the quantity of labor demanded equals the quantity supplied, leading to full employment and the production of potential GDP.

When the Labor Market Is in Equilibrium, I