Which of the following will increase the natural unemployment rate?
i.a minimum wage set above the equilibrium wage rate
ii.efficiency wages
iii.union-negotiated wages
A) i, ii and iii
B) i and ii
C) i and iii only
D) i only
E) ii and iii only
Correct Answer:
Verified
Q143: When the labor market is in equilibrium
Q144: If the government raises income taxes, then
Q145: Which of the following creates job rationing?
A)Job
Q146: Efficiency wages are
A)set below the equilibrium level
Q147: Diminishing returns means that
A)hiring more labor results
Q148: To maximize profits, firms hire labor as
Q149: The level of real GDP the economy
Q150: If the economy is fully employed, which
Q151: The increase in the average unemployment rate
Q152: Diminishing returns along a production function means
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