Which of the following is not correct?
a. Frictional unemployment results from the process of matching workers and jobs.
b. Structural unemployment results when the number of jobs is insufficient for the number of workers.
c. Minimum wages are the predominant reason for unemployment in the U.S. economy.
d. When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
c
You might also like to view...
In practice, the hedonic price method
a. is easy to use because attribute data are always readily available b. estimates the prices of the product’s characteristics c. can be implemented with a simple empirical model d. has never been used by empirical economists
Early population-control efforts focused on the availability of contraceptives. What factors in developing countries call for more integrated efforts?
What will be an ideal response?
Which of the following observations is true? a. An unlimited quantity of organs is available in the United States. b. All organs are required to be donated
c. The supply curve for organs is perfectly elastic. d. The demand curve for human organs is upward sloping.
The substitution effect can be defined as:
A. the change in consumption that results from a change in the relative price of goods. B. the change in income that results from increased effective consumption due to lower prices C. the change in consumption that results from increased effective wealth due to lower prices. D. the change in consumption that results from increased effective wealth due to getting a raise.