Practice Quiz

FSOT: 500 Test Prep Study Questions

Category - Economics

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If 200 jobs are available and only 100 people are unemployed, what will have to happen according to the laws of supply and demand?
  1. Companies needing employees will need to increase pay
  2. Companies needing employees will need to decrease pay
  3. Companies needing employees will need to reduce benefits
  4. Companies needing employees will need to fire workers
  5. The laws of supply and demand do not apply to this situation
Explanation
Answer: A - Companies needing employees will need to increase pay.
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