If the Hourly Wage Rate Is Above the Equilibrium Wage,then

question 56

Multiple Choice

If the hourly wage rate is above the equilibrium wage,then

• A) there is a surplus of labor.
• B) the quantity of labor demanded is equal to the quantity of labor supplied.
• C) the demand for labor will fall and the supply of labor will rise.
• D) the quantity of labor demanded will be greater than the quantity of labor supplied.

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