A minimum wage set above the equilibrium wage rate
A) decreases job rationing.
B) decreases the natural unemployment rate because fewer workers will become unemployed.
C) increases the natural unemployment rate.
D) increases the number of workers employed.
E) increases the demand for labor.
C
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What could cause a decrease in the price level and simultaneously an increase in GDP similar to the 1920s in the United States?
A) a decrease in interest rates B) an increase in interest rates C) a decrease in consumer confidence D) an increase in productivity
In the economy of Euphoria, 400 people have jobs, 200 people are not working but are searching for work, and 100 people don't work and don't seek work. The unemployment rate is
A) 20 percent. B) 25 percent. C) 33 percent. D) 50 percent. E) none of the above.
Another name for a surplus is
A) excess quantity supplied. B) excess quantity demanded. C) equilibrium. D) market clearing.
Using the midpoint method for calculating the price elasticity of demand, you get the same elasticity of demand between two points, whether you are moving up the demand curve or down it
a. True b. False Indicate whether the statement is true or false