Use the following to answer questions:
Figure: The Labor Market
-(Figure: The Labor Market) Look at the 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 
-(Figure: The Labor Market) Look at the 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, the quantity of labor supplied equals the quantity of labor demanded, resulting in an unemployment rate of 0%.

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