When the economy is in a recessionary gap, the labor market is experiencing a _____________. In a self-regulating economy, wage rates will then ___________ and the ______________ curve will shift __________________
A) shortage; rise; AD; rightward
B) shortage; fall; SRAS; leftward
C) surplus; rise; AD; rightward
D) shortage; fall; SRAS; rightward
E) surplus; fall; SRAS; rightward
E
Economics
You might also like to view...
When the supply of labor increases, according to the specificfactors model, which of the following is likely to happen in the sending country?
a. The number of workers employed will decrease. b. The wages for workers will rise. c. The marginal product of labor shifts to the right. d. All of these are likely to happen in the sending country.
Economics
During which years, if any, did the country have a balanced budget?
A) 2008 and 2009 B) 2012 only C) 2011 only D) 2010 and 2012 E) all except 2011
Economics