Which of the Following Statements Is True

question 47

Multiple Choice

Which of the following statements is true?

• A) Both employees and employers have complete information about each other in a frictionless labor market.
• B) The market wage rate is always below the equilibrium wage rate in a frictionless labor market.
• C) There is always some unemployment in a frictionless labor market.
• D) Labor markets in the United States are frictionless.

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Definitions:

Tariff Rates

Tariff rates are taxes imposed by a government on goods and services imported from other countries, used to control trade policies.

Republicans

A member or supporter of the Republican Party in the United States, traditionally advocating for conservative policies, limited government, and a market-oriented economy.

Populists

A political approach aiming to represent the interests and voices of ordinary people, often against the elite or established structures of power.

Jacob S. Coxey

An American politician, known for leading the "Coxey's Army" march on Washington D.C. in 1894 to advocate for unemployed workers and public infrastructure jobs.