-Refer to Exhibit 4-6.At a wage of $7,there will be a __________ of unskilled workers equal to __________ thousand workers.
A) shortage; 10
B) surplus; 20
C) surplus; 10
D) shortage; 20
E) surplus; 15

Question

-Refer to Exhibit 4-6.At a wage of $7,there will be a __________ of unskilled workers equal to __________ thousand workers.
A) shortage; 10 
B) surplus; 20 
C) surplus; 10 
D) shortage; 20 
E) surplus; 15

Quizplus · Accepted Answer

At a wage of $7, the quantity of unskilled workers supplied exceeds the quantity demanded, creating a surplus. The difference between the quantity supplied (40 thousand) and the quantity demanded (20 thousand) at this wage level is 20 thousand workers.