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Author Question: Suppose the government abolished the minimum wage law and the law that requires union wage rates to ... (Read 134 times)

laurencescou

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Suppose the government abolished the minimum wage law and the law that requires union wage rates to be paid on all government contract jobs. We would expect to see
 
  A) a recession.
  B) the duration of unemployment to increase.
  C) a decline in the natural rate of unemployment.
  D) an increase in claims for unemployment benefits.

Question 2

Table 7.1 exemplifies the principle of
 
  A) diminishing returns. B) marginal costs.
  C) full employment equilibrium. D) real vs. nominal costs.


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asdfasdf

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