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MMLU-Pro / 6905 / When a perfectly competitive labor market is in equilibrium,

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

When a perfectly competitive labor market is in equilibrium,

category

economics

options

  1. individual firms face upward sloping labor demand curves
  2. individual firms face horizontal labor demand curves
  3. there is a shortage of jobs and a surplus of workers
  4. wages are dictated by the government
  5. individual firms face downward sloping labor supply curves
  6. unemployment rate is at 0 percent
  7. there is a surplus of jobs and a shortage of workers
  8. individual firms face downward sloping labor demand curves
  9. everyone who wants to work has the opportunity to do so
  10. unemployment can reach as high as 10-15 percent

src

ori_mmlu-high_school_microeconomics

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