Labor Wage rate (dollars per hour) supplied (millions of workers) 6. Labor demanded (millions of workers 11 4 10 9. 4 8 3 7 7 8. 7. In the table above, what is the equilibrium wage rate in an unregulated market? $11.00 per hour $10.00 per hour $8.00 per hour O $9.00 per hour

Principles of Macroeconomics (MindTap Course List)
8th Edition
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Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Unemployment
Section: Chapter Questions
Problem 4CQQ
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Question
Labor
Wage rate
(dollars per
hour)
supplied
(millions of
workers)
6.
Labor demanded
(millions of
workers
11
4
10
5
9.
4
6.
8.
7
7
7. In the table above, what is the equilibrium wage rate in an unregulated market?
$11.00 per hour
$10.00 per hour
$8.00 per hour
$9.00 per hour
Transcribed Image Text:Labor Wage rate (dollars per hour) supplied (millions of workers) 6. Labor demanded (millions of workers 11 4 10 5 9. 4 6. 8. 7 7 7. In the table above, what is the equilibrium wage rate in an unregulated market? $11.00 per hour $10.00 per hour $8.00 per hour $9.00 per hour
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