Author Question: The CBS news correspondent Bill Whitaker discussed the high level of unemployment among teens, ... (Read 21 times)

bclement10 · **on:** Jun 29, 2018

The CBS news correspondent Bill Whitaker discussed the high level of unemployment among teens, especially during the summer months. In 2011, unemployment among the population as a whole was 9.1 percent, but among teens it was close to 24 percent.

Many of these teens were hoping to get entry level jobs as small businesses. (Source: CBS news, June 4, 2011) A minimum wage set above the equilibrium wage rate is called A) a price floor.
B) a price ceiling.
C) quota.
D) subsidy.

Question 2

In the above figure, curve A is the ________ curve, curve B is the ________ curve, and curve C is the ________ curve.

A) long-run aggregate supply; short-run aggregate supply; aggregate demand
B) aggregate demand; short-run aggregate supply; long-run aggregate supply
C) short-run aggregate supply; long-run aggregate supply; aggregate demand
D) long-run aggregate supply; aggregate demand; short-run aggregate supply