Refer to the information provided in Figure 14.2 below to answer the questions that follow.
Figure 14.2
-Refer to Figure 14.2.According to classical economists if the wage rate is

Question

Refer to the information provided in Figure 14.2 below to answer the questions that follow.
  Figure 14.2
-Refer to Figure 14.2.According to classical economists if the wage rate is

Quizplus · Accepted Answer

Classical economists believe that if the wage rate is above the equilibrium level, there will be a surplus of labor, leading to a decline in the wage rate to reach equilibrium.

Refer to the Information Provided in Figure 14