Which sentence describes how the labor market is like other markets?
a) wages are high when both the supply and demand for labor are low.
b) wages are high when both the supply and demand for labor are high.
c) wages are high when the supply of labor is high and the demand for labor is low.
d) wages are high when the supply of labor is high and the demand for labor is high.
, i keep getting mixed up with the question xd
also, would you classify economics for social studies or business for the category?

C) wages are high when the supply of labor is high and the demand for labor is low.

Explanation:

The workers offer their work to the companies in exchange for a salary and, while they work, they give up other activities such as having fun, cleaning the house, taking care of their relatives, etc.

If wages increase, people will be more motivated to work and the labor supply will be high. In addition, if wages increase, companies will reduce the demand for labor, as it is more expensive to hire.

And I think that t is correct to place this type of macroeconomics questions in this category of social studies.

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