A shortage is the same as an excess demand
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Refer to the figure above. If the government institutes a minimum wage rate at $30, the unemployment in the market will be:
A) 25 units of labor. B) 10 units of labor. C) 15 units of labor. D) 20 units of labor.
Economics
In the figure above, in the market for low-skilled labor, the equilibrium wage rate is
A) $16. B) $8. C) $20. D) $28.
Economics