Geographic immobility in the labor force results in:
A. Homogeneous wage rates
B. Homogeneous unemployment rates
C. Local labor markets which reach equilibrium quickly and efficiently
D. Persistent wage and unemployment differentials in different regions of the country
D. Persistent wage and unemployment differentials in different regions of the country
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Were it not for the law of diminishing marginal returns, we could grow the world's food supply from a flowerpot
Indicate whether the statement is true or false
In the market for loanable funds, the equilibrium interest rate is determined by the intersection of:
a. the downward-sloping supply curve for loanable funds and the upward-sloping demand curve for loanable funds. b. the upward-sloping supply curve for loanable funds and the downward-sloping demand curve for loanable funds. c. the downward-sloping supply curve of loanable funds and the horizontal demand curve for loanable funds. d. the downward-sloping supply curve of loanable funds and the vertical demand curve for loanable funds. e. the upward-sloping supply curve for loanable funds and the horizontal demand curve for loanable funds.