The table above shows the labor market for the country of Pickett. When the labor market is in equilibrium, the real wage rate is ________ and ________ of labor a year are employed.
A) any value less than 25 an hour; any value greater than 40 billion hours
B) any value greater than 30 an hour; any value more than 40 billion hours
C) any value greater than or equal to 25 an hour; any value less than 40 billion hours
D) 30 an hour; 40 billion hours
Question 2
Because of a bank merger, Ms. Davis lost her position as Vice President and had to seek work with other banks. Ms. Davis has the skills necessary to find a new job, thus she is best considered as
A) frictionally unemployed.
B) cyclically unemployed.
C) structurally unemployed.
D) naturally unemployed.
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