Refer to the Information Provided in Figure 13

question 88

Multiple Choice

Refer to the information provided in Figure 13.1 below to answer the questions that follow. Figure 13.1
-Refer to Figure 13.1. At a wage rate of $9, there is a ________ of labor equal to ________ million people.

• A) surplus; 210
• B) shortage; 210
• C) surplus; 120
• D) None of the above are correct.

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Definitions:

Blacksmiths

Artisans who work with metal, particularly iron, using tools to forge and shape it into products such as tools, weapons, and structures.

AFL

The American Federation of Labor, a national federation of labor unions in the United States, founded in 1886 and focused on skilled workers.

Knights of Labor

A significant labor organization in the United States during the 19th century that sought to organize workers across different industries to improve working conditions.

Unions

Organizations formed by workers to protect their rights, negotiate collective contracts, and provide support to members on employment matters.