The minimum-wage, insider-outsider, and the efficiency-wage explanations all seek to explain
A) the increase in the employment-to-population ratio over the past 40 years.
B) the trend in real wages over the past 40 years.
C) why the labor market is always in a state of flux.
D) why the real wage is above the equilibrium real wage.
E) why there is a persistent excess demand for labor.
Correct Answer:
Verified
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Q149: If more jobs are created than destroyed
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