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According to the classical economists , what is expected to happen when a wage of $30/hour results in unemployed (surplus of) workers? Group of answer
According to the classical economists , what is expected to happen when a wage of $30/hour results in unemployed (surplus of) workers?
Group of answer choices
a.The workers will go on strike to demand that more jobs be created.
b.The wage rate will drop, more workers will be hired, and the unemployment rate falls.
c.Producers will quickly create more jobs and hire the unemployed workers, so unemployment is short-lived
d. The government will step in and order firms to hire more workers.
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