An increase in the unemployment rate will cause a. an upward shift of the PS curve. b. no change...
Question:
An increase in the unemployment rate will cause
a. an upward shift of the PS curve.
b. no change in the real wage.
c. a reduction in the real wage.
d. an increase in the real wage.
Unemployment Rates:
Unemployment rates refer to the segment of the total labor force that is not employed. These rates are used as lagging indicators, which means it is entirely affected by the shift in factors of the economy. Moreover, high rates of unemployment Increase social problems such as drug abuse and robbery.
Answer and Explanation: 1
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View this answerThe correct answer is choice (C) reduction in real wage since increase unemployment rates show the economy in operation is not meeting its...
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Why the Unemployment Rate Decreases and Increases
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Chapter 6 / Lesson 2
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Unemployment rates are an important indicator of the economy. This lesson will explore what defines unemployment, why unemployment rates change, the way unemployment is calculated, and look at the three types of unemployment.
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