Labor unions contribute to structural unemployment by:
A. allowing unemployed workers to search longer or less intensively for jobs.
B. keeping wages above the market-clearing level.
C. forcing unemployed workers to take the first job offered to them.
D. keeping wages below the market-clearing level.
Answer: B
You might also like to view...
You are considering buying a store. The store owner shows you sales figures of the store on a "typical" day. The owner has most likely shown you figures for
a. The less productive day b. The more productive day c. Any typical day d. All the days that the store was owned by him
Opportunity cost is the:
a. cost incurred when one fails to take advantage of an opportunity. b. price paid for goods and services. c. cost of the best option forgone as a result of choosing an alternative option. d. undesirable aspects of an option.
Which of the following refers to extremely high rates of inflation for sustained periods of time?
a. deflation b. hyperinflation c. bust d. depression
Which of the following will most likely cause a decrease the natural rate of unemployment?
a. an increase in the minimum wage b. an increase in unemployment benefits c. an increase in experienced workers aged 25 and over as proportion of the labor force d. an increase in the labor force participation rate of teenagers