The Labor Market Is Said to Be in Equilibrium When

question 30

Multiple Choice

The labor market is said to be in equilibrium when

• A) everyone who wants to work is supplying his or her labor.
• B) the number of workers is equal to the number of jobs available at a specific wage.
• C) firms are unwilling to hire more workers.
• D) workers keep their hours constant.
• E) the number of available workers is increasing.

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Definitions:

Conditional Jurisdiction

A legal principle where a court has the authority to hear a case based on certain conditions being met.

Subject-Matter Jurisdiction

The power of a court over the type of case presented to it.

In Rem

A legal term referring to actions or judgments that apply to a piece of property directly, rather than against a person.

Sliding-Scale Standard

A method of adjusting the level of strictness or leniency in the application of a rule or standard based on specific conditions or factors.