The following figure shows the labor demand curve, LD₁, and labor supply curve, LS₁, in a market.
-Refer to the figure above.If the government fixes the minimum wage rate at $25,the unemployment in the market will be ________.
Definitions:
Wary
Feeling or showing caution about possible dangers or problems.
Involvement
The degree or extent to which an individual is actively engaged in or committed to a particular activity or cause.
Synchrony
The simultaneous action or occurrence of events or processes, often used to describe moments of shared attention or coordination between individuals.
Responsiveness
The quality of reacting quickly and positively to stimuli or needs, often used in customer service, healthcare, and personal relationships.
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