True or false. write true if the statement is correct. otherwise, write false. 1. labor supply is defined as the amount of labor offered for hired within a given time span.

2. R. A. 7582 is also known as price act.

3. labor demand is defined as the number of labor employers wish to hire at a given time

4. prime commodities are products that are important to the costumers for their lives and survival.

5.basic commodities are products that are not considered basic necessities but are necessary to costumer.

6. according to malthusian theory the More the population increase, the more the resources to supply their needs increases.

7. wage push inflation is an average spike in the prices of commodities due to an increase in income.

8.the suggested retail price is a list of all proposed retail prices created by different implementing agencies.

9. employment is defined as an arrangement where the employer will provide services for the employee.

10. unemployment occurs when people are in between jobs or, if they do not have work, are actively seeking it

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