See the labor market graph below. If there is a sticky wage of $12, what is unemployment rate? 20 16 12 A Labor Market 160 175 Although the graph does not present complete labels, standard labor market labels apply. Note: graph is not to scale. (millions)

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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See the labor market graph below. If there is a sticky wage of $12, what is the
unemployment rate?
20
16
12
A Labor Market
160
160
0%
8.57%
9.38%
10%
15%
16%
175
Although the graph does
not present complete
labels, standard labor
market labels apply.
Note: graph is not to
scale.
(millions)
Transcribed Image Text:See the labor market graph below. If there is a sticky wage of $12, what is the unemployment rate? 20 16 12 A Labor Market 160 160 0% 8.57% 9.38% 10% 15% 16% 175 Although the graph does not present complete labels, standard labor market labels apply. Note: graph is not to scale. (millions)
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