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Card 1 of 22

Why does the equilibrium wage rate remain stable?

A

Labour supply exceeds labour demand, so there is no pressure for the wage to change.

B

Labour productivity equals the wage rate, so there is no pressure for the wage to change.

C

Labour demand exceeds labour supply, so there is no pressure for the wage to change.

D

Labour demand equals labour supply, so there is no pressure for the wage to change.

Card 1 of 22

8.3.7 wage determination in perfect markets Flashcards

  1. Intl A Level
  2. /Economics
  3. /8.3.7 wage determination in perfect markets

22 flashcards on CIE Intl A Level Economics 8.3.7 wage determination in perfect markets: the key terms and definitions you need to recall.

Flashcards