The existence of union wages, efficiency wages, and the minimum wage
A) raises the real wage rate above the equilibrium wage rate and lowers the natural unemployment rate.
B) does not have an impact on the equilibrium wage rate or on the amount of unemployment.
C) raises the real wage rate above the equilibrium wage rate and raises the natural unemployment rate.
D) lowers the real wage rate below the equilibrium wage rate and creates a shortage of labor.
E) raises the real wage rate above the equilibrium wage rate and creates a shortage of labor.
Correct Answer:
Verified
Q134: As the quantity of labor employed increases,
Q135: The presence of efficiency, minimum and union
Q136: Structural change influences the unemployment rate and
Q137: It is estimated that, on the average
Q138: The unemployment rate at full employment is
A)zero.
B)equal
Q140: -------------adopts the view that aggregate fluctuations are
Q141: An efficiency wage is designed to
A)decrease the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents