Multiple Choice
The replacement ratio is
A) the reservation wage divided by the wage rate offered on a new job
B) the reduction in real GDP caused by a 1 percent reduction in unemployment benefits
C) after-tax income while unemployed divided by after-tax income while employed
D) the wage rate offered on a new job divided by unemployment benefits
E) the increase in the unemployment rate caused by a 1 percent increase in the inflation rate
Correct Answer:
Verified
Correct Answer:
Verified
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