Figure 9-1 -Refer to Figure 9-1.Based on the Graph of the Labor

question 104

Multiple Choice

Figure 9-1
-Refer to Figure 9-1.Based on the graph of the labor market above,if a minimum wage is set at $5 per hour,which of the following will occur?

• A)The unemployment rate will rise.
• B)The unemployment rate will fall.
• C)The level of unemployment will rise,but the percentage of the labor force unemployed will not change.
• D)None of the above will occur.

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Definitions:

Culture

The shared values, traditions, norms, customs, arts, history, and institutions of a group of people.

Symbolic Culture

The aspects of culture that exist in non-material forms such as language, norms, values, and beliefs.

Symbolic Culture

The aspect of culture that involves the use of symbols, including language, to convey meaning, objects, and ideas.

Values

Core beliefs or standards that guide behavior and judgment.