Asked by
Monica Ramos
on Dec 12, 2024
Verified
Which of the following is a correct statement about the labor market?
A) Workers determine the supply of labor, and firms determine the demand for labor.
B) Workers determine the demand for labor, and firms determine the supply of labor.
C) Workers determine the supply of labor, and government determines the demand for labor.
D) The forces of supply and demand, while present in the labor market, have nothing to balance in that market.
Labor Market
The marketplace in which employers find workers and workers find jobs, characterized by supply and demand for labor.
- Examine how market circumstances influence labor demand.
Verified Answer
JV
Learning Objectives
- Examine how market circumstances influence labor demand.
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