When people become unemployed because of a higher minimum wage, this type of unemployment is called
What will be an ideal response?
structural
You might also like to view...
If a good is considered a normal good, the demand curve will shift ________ when income increases because ________
A) right; the income and substitution effects move in the same direction. B) right; the income and substitution effects move in the opposite direction. C) left; the income and substitution effects move in the same direction. D) left; the income and substitution effects move in the opposite direction.
Why does the structure of a corporate business complicate the analysis of a strategy?
The inflation rate in a particular country between 2000 and 2005 was 4.5 percent. This implies that the total cost of purchasing a basket of goods was $450 in 2000 and_____ in 2005
a. $470.25 b. $20.25 c. $407.25 d. $200.45
Suppose Katie, Kendra, and Kristen each purchase a particular type of cell phone at a price of $80 . Katie's willingness to pay was $100, Kendra's willingness to pay was $95, and Kristen's willingness to pay was $80 . Which of the following statements is correct?
a. For the three individuals together, consumer surplus amounts to $35. b. Having bought the cell phone, Kristen is better off than she would have been had she not bought it. c. Had the price of the cell phone been $95 rather than $80, Katie and Kendra definitely would have been buyers and Kristen definitely would not have been a buyer. d. The fact that all three individuals paid $80 for the same type of cell phone indicates that each one placed the same value on that cell phone.