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"Shortage" in an economy is expressed as higher prices. In almost any cases you will be able to find more workers if you are willing to pay an unlimited amount.
by netcan 14y ago
"Shortage" in an economy is expressed as higher prices. In almost any cases you will be able to find more workers if you are willing to pay an unlimited amount. There is no way of determining the "correct" price.
The reverse is also true. More potential employees in the marketplace lowers salaries.
If you take "you could find employees at a higher salary" as a proof that the shortage doesn't exist you'll virtually always have that proof. Under that definition shortages don't exist which feels like some sort of semantic trickery.