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xz_007 [3.2K]
3 years ago
7

Which sentence describes how the labor market is like other markets?

Social Studies
2 answers:
Reil [10]3 years ago
5 0
<span>Which sentence describes how the labor market is like other markets?

Answer:I would say </span><span>Wages are high when the supply of labor is low and demand is high but If you didn't messed anything up i would go with C.</span>
AnnyKZ [126]3 years ago
4 0

Answer:

C) wages are high when the supply of labor is high and the demand for labor is low.

Explanation:

<em>The workers offer their work to the companies in exchange for a salary</em> and, while they work, they give up other activities such as having fun, cleaning the house, taking care of their relatives, etc.

<u>If wages increase, people will be more motivated to work </u>and the labor supply will be high. In addition, if wages increase, companies will reduce the demand for labor, <u>as it is more expensive to hire. </u>

And I think that t is correct to place this type of macroeconomics questions in this category of social studies.

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