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2.7 The labour market

2.7 The labour market

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Question 8

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What do W* and L* represent in the labour market shown?

[1]
A

The minimum wage and the size of the working-age population.

B

The equilibrium wage and employment where demand for labour equals supply of labour.

C

Gross pay and net pay after deductions.

D

The wage and employment chosen only by workers.

Markscheme

2.7 The labour market Questions

  1. GCSE
  2. /Economics
  3. /2.7 The labour market

34 exam-style questions on OCR GCSE Economics 2.7 The labour market, covering 2.7.1 Role and operation of the labour market, 2.7.2 Determination of wages, 2.7.3 Explain gross and net pay, and 2.7.4 Calculate gross and net pay. Each one has a worked solution and a mark scheme showing where the marks go.

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