Question

If the supply of workers and demand for workers is not an equilibrium which of the following statements is true

a.workers are paid according to the value of what they produce
b. the higher the wage for a job the more people are attracted to it
c.the supply of labor is higher than the demand for labor
d.there is no pressure to raise or lower wages

Answer 1

b. the higher the wage for a job the more people are attracted to it

Step-by-step explanation:

Labor market equilibrium occurs when labor demand equals labor supply. If the labor market is out of balance, two situations may be happening. Either there is a higher labor supply than available workers or there is a greater labor supply than available workers. Among the available options, the correct one is (B). I suppose the job market has more job offers than workers. What makes workers willing to work is the amount of pay. In order to fill the vacant positions, companies tend to increase the offered salary. In this way, inactive workers will be attracted to work and a new balance can be established.

Answer 2

C) The supply of labor is higher than the demand for labor if the supply of workers and demand for workers is not an equilibrium. The labor market equilibrium is a state or condition where the supply of the worker equal to the demand for the worker. The labor market is a type of factor market where factors of the production are being bought and sold.