Labor markets are generally perfectly competitive markets.
Answer the following statement true (T) or false (F)
False
Economics
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If the price is above the equilibrium price, then there is a
A) surplus, and market forces will operate to lower price. B) surplus, and market forces will operate to raise price. C) shortage, and market forces will operate to lower price. D) shortage, and market forces will operate to raise price.
Economics
What can we say about the employment of resources if the economy is at a point inside its production possibility frontier?
What will be an ideal response?
Economics