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Author Question: Refer to the figure above. If the government fixes a minimum wage rate at 15, the unemployment in ... (Read 63 times)

TVarnum

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on: Jun 30, 2018
Refer to the figure above. If the government fixes a minimum wage rate at 15, the unemployment in the market will be:
 
  A) 20 units of labor B) 0 units of labor C) 10 units of labor D) 30 units of labor

Question 2

If 160 million people are employed, 15 million people are unemployed, and the population is 280 million people, the unemployment rate is
 
  A) 57 percent.
  B) 62.5 percent.
  C) 8.6 percent.
  D) 9.4 percent.
  E) not possible to calculate without data on the labor force.


kishoreddi

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


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