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One Difference Between the Labor Market and Markets for Goods

Question 44

Multiple Choice

One difference between the labor market and markets for goods and services is


A) the demand in the labor market is inelastic; the demand for goods and services may be elastic or inelastic.
B) the supply of labor is perfectly inelastic because the quantity supplied is constant. The elasticity of supply for goods and services is different in different markets.
C) concepts of fairness arise more frequently in labor markets than in the markets for goods and services.
D) in the labor market, firms are suppliers while households are demanders.

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