Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-One of the assumptions of an economic analysis is that market functions are controlled by the government.

Question

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market. 
-One of the assumptions of an economic analysis is that market functions are controlled by the government.

Quizplus · Accepted Answer

One of the assumptions of an economic analysis is that market functions are not controlled by the government, and instead supply and demand interact to determine prices and quantities exchanged.

​Figure 53

Figure 53