Multiple Choice
Suppose the government abolished the minimum wage law and the law that requires union wage rates to be paid on all government contract jobs. We would expect to see
A) a decline in the natural rate of unemployment.
B) an increase in claims for unemployment benefits.
C) the duration of unemployment to increase.
D) a recession.
Correct Answer:

Verified
Correct Answer:
Verified
Q27: The real business cycle theory is based
Q28: According to the text, minimum-wage laws cause
Q29: The Phillips curve reflects the relationship between<br>A)
Q30: What happens to the Phillips curve when
Q31: According to the policy irrelevance proposition, real
Q33: The Phillips Curve will shift downward if<br>A)
Q34: According to New Keynesians, which of the
Q35: The menu cost theory states that<br>A) prices
Q36: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q37: Compare and contrast the arguments favoring active