Which of the Following Is Not a Consequence of Above-Equilibrium

question 337

Multiple Choice

Which of the following is not a consequence of above-equilibrium wages in a labor market?

• A)a surplus of labor
• B)unemployment
• C)more unionized jobs
• D)All of the above are consequences of above-equilibrium wages.

---

Definitions:

Efficient Allocation

The optimal distribution of resources in an economy, ensuring that these resources are used in a way that maximizes the net benefit to society.

Ethnic Groups

Communities of people who share common cultural characteristics, ancestral ties, and social experiences.

Government Programs

Initiatives or plans undertaken by a government to address social, economic, or environmental issues, which may involve legislation, services, or funding.

Distribution Of Income

The way in which total income is shared out among households, firms, and the government within an economy.