Use the following to answer questions:
-(Figure: The Labour Market)Use Figure: The Labour Market.The unemployment rate at the equilibrium wage rate is _____%.
A) 0
B) 50
C) 80
D) 15

Question

Use the following to answer questions: 
-(Figure: The Labour Market)Use Figure: The Labour Market.The unemployment rate at the equilibrium wage rate is _____%.
A) 0 
B) 50 
C) 80 
D) 15

Quizplus · Accepted Answer

At the equilibrium wage rate, the quantity of labor supplied equals the quantity of labor demanded, meaning there is no excess supply or demand, resulting in an unemployment rate of 0%.

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