When people are standing in line for jobs and there are more applicants than jobs,then the labor market is characterized by a
A)Shortage of jobs from the point of view of the buyer in the labor market.
B)Surplus of jobs from the point of view of the seller in the labor market.
C)Surplus of labor.
D)Shortage of labor.

Question

Quizplus · Accepted Answer

When there are more applicants than jobs, the labor market is characterized by a surplus of labor. This means that there are more workers available than there are jobs available, which can lead to lower wages and increased competition among job seekers.

When People Are Standing in Line for Jobs and There