Job Rationing Occurs When the Real Wage Rate Is

question 45

Multiple Choice

Job rationing occurs when the real wage rate is

• A)equal to the equilibrium wage rate so there is no excess supply of labor.
• B)below the equilibrium wage rate so there is an excess supply of labor.
• C)above the equilibrium wage rate so there is a shortage of labor.
• D)above the equilibrium wage rate so there is an excess supply of labor.
• E)Both answers A and D are correct because whenever the real wage rate is above or below the equilibrium wage rate, there is an excess supply of labor.

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