The presence of efficiency, minimum and union wages
A) can explain job rationing because they lower the real wage rate below equilibrium.
B) cannot explain job rationing because they are a natural part of the economy.
C) can explain job rationing because they raise the real wage rate above equilibrium.
D) can explain job rationing because they lower the natural unemployment rate.
E) does not effect job rationing because they affect only the amount of job search.
Correct Answer:
Verified
Q130: The production function describes the relationship between
A)real
Q131: As an economic expansion approaches its peak,
Q132: When the labor market is in equilibrium,
A)there
Q133: Q134: As the quantity of labor employed increases, Q136: Structural change influences the unemployment rate and Q137: It is estimated that, on the average Q138: The unemployment rate at full employment is Q139: The existence of union wages, efficiency wages, Q140: -------------adopts the view that aggregate fluctuations are
A)zero.
B)equal
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