Structural Unemployment Will Decrease When

question 46

Multiple Choice

Structural unemployment will decrease when:

• A)the minimum wage is increased.
• B)the minimum wage is decreased.
• C)unemployment insurance benefits are increased.
• D)union wages are increased.

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Definitions:

Raffle Prize

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Neoclassical Economics

An economic theory that focuses on how consumers and producers make choices based on their preferences, constraints, and available resources, emphasizing the role of supply and demand in determining prices and allocation of resources.

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The principle that individuals will make decisions that they perceive to be the most beneficial to themselves, taking into account all available information.

Sellers' Sense

An intuitive understanding or awareness among sellers about market conditions, consumer demand, and optimal pricing strategies.