There will be a ________ of workers when the wage is ________ the equilibrium wage.
A) surplus; at
B) shortage; below
C) shortage; above
D) shortage; at
E) surplus; below

Question

Quizplus · Accepted Answer

A shortage of workers occurs when the wage is below the equilibrium wage because at that price, demand for workers exceeds supply. This leads to employers being willing to hire more workers, but there are not enough available, creating a shortage.

There Will Be a ________ of Workers When the Wage