Multiple Choice
Regarding the categories of unemployment, how does a minimum-wage law compare to firms paying higher-than-equilibrium wages?
A) The minimum wage creates frictional unemployment, while firms paying wages above equilibrium create structural unemployment.
B) The minimum wage creates structural unemployment, while firms paying wages above equilibrium create frictional unemployment.
C) The minimum wage and firms paying wages above equilibrium both create structural unemployment.
D) The minimum wage and firms paying wages above equilibrium both create frictional unemployment.
Correct Answer:
Verified
Correct Answer:
Verified
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