If the minimum wage is set above the equilibrium market wage, it:
A) increases unemployment.
B) is effective and reduces unemployment.
C) equals the black market wage.
D) is lower than firms are willing to pay for labor.
E) does not affect the market equilibrium.
Correct Answer:
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Q49: Unemployment is given by _ unemployment and
Q50: Refer to the following table 7.2 when
Q51: If the minimum wage is set below
Q52: The gradual rise in unemployment in the
Q53: The rise in the employment-population ratio between
Q55: The natural rate of unemployment is the
Q56: One consequence of wage rigidity is:
A) lower
Q57: Refer to the following figure when answering
Q58: Wage rigidity:
A) helps the labor market achieve
Q59: The natural rate of unemployment is decomposed
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