Minimum-wage laws
a. create frictional unemployment, while firms paying wages above equilibrium to reduce worker turnover creates structural unemployment.
b. create structural unemployment, while firms paying wages above equilibrium to reduce worker turnover creates frictional unemployment.
c. and firms paying wages above equilibrium to reduce worker turnover both create structural unemployment.
d. and firms paying wages above equilibrium to reduce worker turnover both create frictional unemployment.
c
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What does NOT appear on the asset side of a bank's balance sheet?
A. required reserves
B. checkable deposits
C. loans
D. excess reserves
Refer to Table 11.1. What is the equilibrium level of output, y*?
A) 1,775 B) 2,375 C) 7,100 D) 9,500
Which of the following statements about the price elasticity of demand along a downward-sloping linear demand curve is true?
A) It is elastic at high prices and inelastic at low prices. B) It is inelastic at high prices and elastic at low prices. C) It is perfectly elastic at very high prices and perfectly inelastic at very low prices. D) It is unit elastic throughout the demand curve.
When a country allows trade and becomes an importer of steel,
a. the losses of the domestic producers of steel exceed the gains of the domestic consumers of steel. b. the losses of the domestic consumers of steel exceed the gains of the domestic producers of steel. c. the gains of the domestic producers of steel exceed the losses of the domestic consumers of steel. d. the gains of the domestic consumers of steel exceed the losses of the domestic producers of steel.