The Presence of Efficiency, Minimum and Union Wages

question 176

Multiple Choice

The presence of efficiency, minimum and union wages

• A) can explain job rationing because they lower the natural unemployment rate.
• B) can explain job rationing because they raise the real wage rate above equilibrium.
• C) can explain job rationing because they lower the real wage rate below equilibrium.
• D) does not effect job rationing because they affect only the amount of job search.
• E) cannot explain job rationing because they are a natural part of the economy.

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Definitions:

Successful Stepfamilies

Blended families that manage to navigate the challenges of bringing together parents and children from previous marriages successfully.

Couple Relationship

A romantic or sexual relationship between two people.

Rewards

Benefits or positive feedback given for a specific behavior, encouraging repetition of such behavior.

Remarriage

The act of marrying someone again after being divorced or widowed from a previous spouse.