Economic advisers who fear that the economy is growing too rapidly would recommend that the government decrease spending and/or increase taxes.
Indicate whether the statement is true or false
Question 2
Which of the following statements is true when wages are above the market clearing wage?
A) The larger the gap between the current market wage and the market clearing wage, greater will be the amount of unemployment.
B) At wage rates above the market clearing wage rate, there is an excess demand for workers.
C) At wage rates below the market clearing wage rate, there is an excess supply of workers.
D) The larger the gap between the current market wage and the market clearing wage, smaller will be the amount of unemployment.
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