Which of the following statements is true of a frictionless labor market?

A) The quantity of labor demanded always exceeds the quantity of labor supplied.
B) Firms can instantly hire and fire workers.
C) The quantity of labor supplied always exceeds the quantity of labor demanded.
D) All firms pay below the equilibrium wage rate.

Economics

You might also like to view...

Which of the following equations is incorrect?

A) AFC = ATC - AVC B) ATC = AVC - AFC C) AVC + AFC = ATC D) ATC - AFC = AVC

View

Economics

Explain Tobin's idea of "Don't put all your eggs in one basket."

What will be an ideal response?

View

Economics