The market wage could be higher than the equilibrium wage if a worker
a. is a superstar.
b. belongs to a labor union.
c. has more human capital.
d. All of the above are correct.
b
Economics
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When the price level falls from 135 to 120, the aggregate level of GDP supplied falls from $140 billion to $125 billion. This ________ relationship represents the ________ relationship between GDP and the price level
A) positive; long-run B) negative; short-run C) negative; long-run D) positive; short-run
Economics
Ceteris paribus means "other things constant."
a. True b. False
Economics