Entry Exam Category: High School Equivalency Exams
Course: HiSET
Exam: HiSET Social Studies Practice Test
Practice Question
What is this labor market's equilibrium wage rate?
Answer Choices
- A: $4 per hour
- B: $8 per hour
- C: $12 per hour
- D: $16 per hour
Correct Answer: C
Rationale: Without the HISET1 graph, I assume a typical labor market supply-demand graph where equilibrium occurs where supply equals demand. Based on common economic examples, $12 per hour is a reasonable equilibrium wage rate for labor markets in such questions, balancing supply and demand.