If the minimum wage is set below the equilibrium market wage:
A) it increases unemployment
B) it is effective and reduces unemployment
C) it equals the black market wage
D) it is lower than firms are willing to pay for labor
E) None of these answers are correct.
Correct Answer:
Verified
Q42: Unemployment is given by _ and the
Q43: The cause(s) of increased female participation in
Q44: The natural rate of unemployment is decomposed
Q45: The rise in the employment-population ratio largely
Q45: Structural unemployment is the unemployment that results
Q46: Refer to the following figure when
Q48: One consequence of wage rigidity is:
A) lower
Q49: The natural rate of unemployment is the
Q50: Refer to the following table when
Q52: Wage rigidity:
A) helps the labor market achieve
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