The Real Wage Rate Is $35 an Hour

question 310

Multiple Choice

The real wage rate is $35 an hour.At this wage rate there are 100 billion labor hours supplied and 200 billion labor hours demanded.There is a

• A)shortage of 300 billion hours of labor.
• B)shortage of 100 billion hours of labor.
• C)surplus of 100 billion hours of labor.
• D)surplus of 300 billion hours of labor.
• E)shortage of 200 billion hours of labor.

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