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Author Question: Refer to the information provided in Figure 28.1 below to answer the question(s) that follow. Refer ... (Read 103 times)

plus1

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Question 1

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. The equilibrium wage rate is $________ and the equilibrium number of people employed is ________ million people.


◦ 15; 270
◦ 9; 210
◦ 15; 150
◦ 6; 180

Question 2

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. At wage rate $15, there is a ________ of labor equal to ________ million people.


◦ surplus; 150
◦ shortage; 150
◦ shortage; 120
◦ surplus; 120


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Marked as best answer by plus1 on Apr 19, 2019

raili21

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Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sjones

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Question 1

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. At wage rate $6, there is a ________ of labor equal to ________ million people.


◦ shortage; 180
◦ shortage; 60
◦ surplus; 180
◦ surplus; 60

Question 2

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. According to classical economists if the wage rate is $6, the wage rate will ________ to eliminate the ________.


◦ decline; surplus
◦ increase; shortage
◦ decline; shortage
◦ increase; surplus



helenmarkerine

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Answer 1

shortage; 60

Answer 2

increase; shortage





jCorn1234

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  • Posts: 545

Question 1

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. Which of the following can change the equilibrium wage rate from $9 to $6?


◦ The value people put on their leisure time increases.
◦ The value of what firms produce increases.
◦ The productivity of workers decreases.
◦ The productivity of workers increases.

Question 2

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. Which of the following can change the equilibrium wage rate from $9 to $15?


◦ The value people put on their leisure time increases.
◦ The value of what firms produce decreases.
◦ The productivity of workers decreases.
◦ the value of what firms produce increases.



diesoon

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Answer 1

The productivity of workers decreases.

Answer 2

The value people put on their leisure time increases.



lak

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  • Posts: 546

Question 1

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. At a wage rate of $9, there is a ________ of labor equal to ________ million people.


◦ surplus; 210
◦ shortage; 210
◦ surplus; 120
◦ None of these are correct.

Question 2

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.








Refer to Figure 28.1. At a wage rate of $________, there is a surplus of labor equal to ________ million people.


◦ 6; 60
◦ 6; 180
◦ 15; 150
◦ 15; 120



orangecrush

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  • Posts: 350

Answer 1

None of these are correct.

Answer 2

15; 120



 

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