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Author Question: Refer to Figure 9-1.Based on the graph of the labor market above, if a minimum wage of $8 ... (Read 65 times)

eruditmonkey@yahoo.com

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on: Mar 16, 2019

Question 1

The reasons why someone cannot get a job are similar to the reasons why someone cannot get a date. Using the ideas of frictionally unemployed, structurally unemployed, and cyclically unemployed, describe and explain how a student at your university might be frictionally "undated," structurally "undated," and cyclically "undated."



Question 2

Figure 9-1











Refer to Figure 9-1. Based on the graph of the labor market above, if a minimum wage of $8 per hour is imposed, which of the following will result?


◦ The quantity of labor demanded by firms will rise.
◦ The quantity of labor demanded by firms will fall.
◦ The unemployment rate will fall.
◦ Both The quantity of labor demanded by firms will rise and The unemployment rate will fall will occur.
Macroeconomics ¦ Hubbard, O'Brien ¦ 6th Edition
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Marked as best answer by eruditmonkey@yahoo.com on Mar 16, 2019

gabrielle_lawrence

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Reply #1 on: Mar 16, 2019
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eruditmonkey@yahoo.com

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Reply #2 on: Mar 16, 2019
Thank you!


gabrielle_lawrence

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Reply #3 on: Mar 16, 2019
Always glad to help...


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