Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-To examine a real-world issue, economists look at the real-world results to see how they differ from those of a free market.

Question

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market. 
-To examine a real-world issue, economists look at the real-world results to see how they differ from those of a free market.​

Quizplus · Accepted Answer

Economists often use real-world data to understand how markets differ from the theoretical predictions of a free market.

​Figure 53

Figure 53