Multiple Choice
The presence of efficiency, minimum and union wages
A) can explain job rationing because they lower the natural unemployment rate.
B) can explain job rationing because they raise the real wage rate above equilibrium.
C) can explain job rationing because they lower the real wage rate below equilibrium.
D) does not effect job rationing because they affect only the amount of job search.
E) cannot explain job rationing because they are a natural part of the economy.
Correct Answer:
Verified
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