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Classical Economists Argue That When the Labor Market Is in Equilibrium

Question 21

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Classical economists argue that when the labor market is in equilibrium, those people who are not working are those who have CHOSEN not to work at that market wage. Why might an individual choose not to work at the market wage? Do you agree with the classical view of the labor market? Why or why not?

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An individual may choose not to work bec...

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