Test

The place where workers offer their skill and time, and employers offer job in exchange of wages.

This is the use of technology, machines, or software to perform tasks without human intervention or with minimal human input.

The lowest legal wage an employer can pay.

A market place where people, companies, and government trade financial assets like stocks, bonds, loans, and currencies.

The wage needed to afford basis and decent life.

The extra money paid by a borrower to a lender for using their money over time

Refers to the law that set a maximum interest rate that lenders can legally charge on loan.

TRUE OR FALSE:  In the labor market, if wages are set above the equilibrium level, there will be a surplus of labor (unemployment).

TRUE OR FALSE: An increase in the supply of financial capital in a country will generally lead to a decrease in interest rates.  

TRUE OR FALSE:  When there is a technological advancement in production, the demand for labor will always increase.