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.

---

Definitions:

Positive Identities

The aspects of an individual’s self-concept that are viewed in a positive light and contribute to the sense of self-worth.

Second-generation Immigrants

Individuals born in a country, but having at least one parent who immigrated to that country.

Social Networks

Platforms and communities where individuals interact, share content, and communicate, often through the internet.

Optimal Identity Development

Refers to the process through which individuals achieve a sense of self, purpose, and belonging, ideally in a healthy and positive manner.