The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6

-If the quantity demanded for labor is more than the quantity supplied, there will be unemployment.

Question

The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6
 
-If the quantity demanded for labor is more than the quantity supplied, there will be unemployment.

Quizplus · Accepted Answer

When the quantity demanded for labor is more than the quantity supplied, it indicates a labor shortage, not unemployment.

The Following Figures Show the Demand (D) and Supply (S)