In a situation of excess supply in the labor market, there are:
a. many applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have.
b. few applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have.
c. many applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have.
d. few applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have.
a. many applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have.
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Suppose IBM purchases a factory in Japan. This purchase is entered into which of the balance of payments accounts?
A) capital and financial account B) official settlements account C) trade account D) purchases account E) current account
Refer to Figure 24-4. Given the economy is at point A in year 1, what is the difference between the actual growth rate in GDP in year 2 and the potential growth rate in GDP in year 2?
A) 0.3% B) 1.1% C) 2.7% D) 3.7%