A Surplus of Labor Is Eliminated by _{-------------} in the Real

question 23

Multiple Choice

A surplus of labor is eliminated by _{-------------} in the real wage rate and a shortage of labor is eliminated by _{-------------} in the real wage rate.

• A)an increase; a decrease
• B)a decrease; an increase
• C)a decrease; a decrease
• D)an increase; an increase
• E)None of the above answers are correct because shortages and surpluses are eliminated by changes in the demand for labor and the supply of labor, not the wage rate.

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