When the labor market is in equilibrium so that the quantity of labor supplied equals the quantity demanded,
A) there is no unemployment.
B) the economy is at full employment.
C) nominal GDP equals real GDP.
D) there is no inflation.
E) real GDP might be more than, less than, or equal to potential GDP.
B
Economics
You might also like to view...
How do economists view positive statements?
a. affirmative, justifying existing economic policy b. optimistic, putting the best possible interpretation on things c. descriptive, making a claim about how the world is d. prescriptive, making a claim about how the world ought to be
Economics
How does an increase in real GDP affect the demand for money curve?
What will be an ideal response?
Economics