When There Is Structural Unemployment, the Real Wage Is

question 64

Multiple Choice

When there is structural unemployment, the real wage is:

• A) rigid at a level below the market-clearing level.
• B) rigid at the market-clearing level.
• C) rigid at a level above the market-clearing level.
• D) flexible.

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Definitions:

Probability

The estimation of how likely an event is to take place, quantified by a number ranging from 0 to 1.

Cards

Small pieces of laminated paper or plastic printed with a number, symbol, or illustration, used for playing games, as a medium of exchange, or for identification.

Probability

A statistical concept that quantifies the chance of a given event occurring, often expressed as a ratio or percentage.

Cards

Pieces of thick, flat material, often made of paper or plastic, used for various games, information storage, or special occasions.