In the above figure, at the real wage rate of 50 A) there is a ...

[MirandaLo]

In the above figure, at the real wage rate of 50
 
  A) there is a surplus of 100 billion hours per year.
  B) there is a shortage of 100 billion hours per year.
  C) there is a surplus of 60 billion hours per year.
  D) there is shortage of 20 billion hours per year.

Question 2

Bill loses his job as a loan officer when the bank he works for is bought up by a larger financial institution. Bill has the skills necessary to find a new job, so as Bill searches for work he is best considered an example of
 
  A) frictional unemployment.
  B) structural unemployment.
  C) cyclical unemployment.
  D) a discouraged worker.

[14vl19]

Answer to Question 1

C

Answer to Question 2

A