For a person to have a comparative advantage in producing a product, he must be able to produce that product at a higher opportunity cost than his competitors

In the figure above, if the minimum wage is $4 per hour, then

A) the quantity of labor supplied is less than the quantity of labor demanded. B) the quantity of labor supplied is 4 million hours and the quantity of labor demanded is 2 million hours. C) unemployment is 1 million hours. D) the quantity of labor supplied is 3 million hours and the quantity of labor demanded is 3 million hours.

Based on the data provided in the chapter, which of the following represents the largest component of the labor force?

A) discouraged workers B) retired individuals C) employed D) unemployed