Use the following to answer questions:
-(Figure: The Labor Market) Use Figure: The Labor Market. The unemployment rate at the equilibrium wage rate is _____%.
A) 0
B) 50
C) 80
D) 15

Question

Use the following to answer questions: 
-(Figure: The Labor Market) Use Figure: The Labor Market. The unemployment rate at the equilibrium wage rate is _____%.
A) 0 
B) 50 
C) 80 
D) 15

Quizplus · Accepted Answer

At the equilibrium wage rate, there is no excess supply of labor (unemployment) or excess demand for labor. Therefore, the unemployment rate is 0%.

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