The following figures show the demand (D) and supply (S) curves of micro and macro economists. Figure 29.7
In Figure 29.7, assume that micro- and macroeconomists must be paid the same because of comparable-worth laws.If the wage is $12, then:
A) there is a shortage of macroeconomists and a surplus of microeconomists.
B) there is a shortage of microeconomists and a surplus of macroeconomists.
C) there is a shortage of both macroeconomists and microeconomists.
D) there is a surplus of both macroeconomists and microeconomists.
E) the labor market for economists as a whole is in equilibrium.
Correct Answer:
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