Question
HI, Please give me the right answers, no need for an explanation. thank you! 1. Which of the following combinations would most likely lead to
HI, Please give me the right answers, no need for an explanation. thank you!
1. Which of the following combinations would most likely lead to a drop in hiring at a bookstore?
Select one:
a)Increased wage and decreased book prices b)Increased wage and increased book prices c)Decreased wage and increased book prices d)Decreased wage and decreased book prices
2. Which of the following may cause a drop in the unemployment rate? a)A drop in the minimum wage
b)An increase in the minimum wage
c)An increase in labor supply
d)A drop in income taxes
3. Why does a minimum wage raise the unemployment rate?
a)The market wage is well above the minimum wage
b)No firm wants to pay any of its workers such a high wage
c)Not everyone wants to work for minimum wage
d)Not everyone is productive enough to earn the minimum wage
4. If the market wage is above the minimum wage, which of the following will NOT be true?
a)Labor supply will equal labor demand
b)There will be a surplus of labor
c)Unskilled workers will not be affected by the minimum wage
d)Skilled workers will not be affected by the minimum wage
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