The Following Figures Show the Demand (D) and Supply (S)

The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6

-In Figure 16.6, assume that micro and macroeconomists must be paid the same wage because of comparable-worth laws. If the wage rate is $12, then:

A) there is a shortage of macroeconomists and a surplus of microeconomists.
B) there is a shortage of microeconomists and a surplus of macroeconomists.
C) there is a shortage of both macroeconomists and microeconomists.
D) there is a surplus of both macroeconomists and microeconomists.
E) the labor market for economists as a whole is in equilibrium.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free