Which of the following is not correct? O 1) Frictional unemployment results from the process of matching workers and jobs. 2) Structural unemployment results when the higher wage (above equilibrium level) causes the number of jobs to be insufficient for the number of workers. 3) Minimum wages are the predominant reason for unemployment in the U.S. economy. When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the 4) quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.

Which of the following is not correct? O 1) Frictional unemployment results from the process of matching workers and jobs. 2) Structural unemployment results when the higher wage (above equilibrium level) causes the number of jobs to be insufficient for the number of workers. 3) Minimum wages are the predominant reason for unemployment in the U.S. economy. When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the 4) quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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