Question

A key reason that unemployment in the United States is so low compared to most of...

A key reason that unemployment in the United States is so low compared to most of Europe is because of ________ unemployment.

a.

no structural

b.

low frictional

c.

no cyclical

d.

high structural

e.

low structural

If the monopsony model assumptions hold as predicted::

a.

the classical model of no actual involuntary unemployment is true.

b.

a minimum wage can increase both wages and employment.

c.

minimum wages are ineffective at raising entry level wages.

d.

a minimum wage always creates unemployment and is harmful to the economy.

Homework Answers

Answer #1

Answer : Option C is correct. A key difference between the unemployment rate between USA and the Europe that there is no cyclical unemployment as there is no economic downturn and creation of the job is maximum level.

Answer : Option B is correct. If the monopsony model assumptions hold as predicted a minimum wages can increase both wages and employment. It means that minimum wages can be option available as there is single buyer or employer in an input market (Labour market) as predicted .

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
[16] The three major macroeconomic problems are: A) debt, deficits, and taxation. B) unemployment, inflation, and...
[16] The three major macroeconomic problems are: A) debt, deficits, and taxation. B) unemployment, inflation, and taxation. C) unemployment, falling production, and deficits. D) unemployment, falling production, and inflation. [17] The economic term for a resource that is available for production but is not being utilized is: A) idle. B) wasted. C) inefficient. D) unemployed. [18] Being unemployed can: A) cause a person to alter spending patterns and lifestyle. B) affect a person's self-esteem and relationships with others. C) cause...
Does minimum wage cause unemployment? The minimum wage has evoked controversy since its passage as part...
Does minimum wage cause unemployment? The minimum wage has evoked controversy since its passage as part of the Fair Labor Standards Act of 1938. Proponents of the minimum wage argue that a higher minimum wage will help create jobs, grow the economy, help the war on poverty, and will reduce wage inequality. Its critics stress that the minimum wage causes unemployment, hurts the economy, and actually harms the low-income people that were supposed to be helped. These are clearly very...
1. The amount of __________increases when the economy goes into a recession and decreases when the...
1. The amount of __________increases when the economy goes into a recession and decreases when the economy goes into an expansion. a. structural unemployment b. seasonal unemployment c. cyclical unemployment d. frictional unemployment 2. It is difficult for cyclically unemployed persons to find jobs because a. they typically do not meet the qualifications required for the available jobs. b. the economy is in a recession. c. they voluntarily quit their last jobs and employers may view them as unreliable. d....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT
Active Questions
  • Distinguish between the typical roles of geologist and engineers in dealing with groundwater problems. How do...
    asked 1 minute ago
  • 5) A rock is thrown directly southeast (45 degrees to S and E), at an initial...
    asked 4 minutes ago
  • If 133.2 kJ of heat are added to 5.80 × 102 g of water at 22.0°C,...
    asked 5 minutes ago
  • true/false An unweighted path length measures the number of edges in a graph. Breadth first search...
    asked 13 minutes ago
  • Give an example of the effect of interest rate changes on a fixed coupon bond, what...
    asked 21 minutes ago
  • Thirty-two small communities in Connecticut (population near 10,000 each) gave an average of x = 138.5...
    asked 25 minutes ago
  • The value of the integral   ∫C(3x2+ycosx)dx+(sinx−4y3)dy∫C(3x2+ycos⁡x)dx+(sin⁡x−4y3)dy, where CC is an arbitrary path from A(−π,−1)A(−π,−1) to B(2π,1)B(2π,1),...
    asked 39 minutes ago
  • the ordinates of a 6-h unit hydrograph for a particular catchment are 0,10,30,50,40,30,20,10 and 0 m3/s...
    asked 40 minutes ago
  • Please solve this using R code Part 3: A particular item is handmade in two stages...
    asked 49 minutes ago
  • Compare the American Cousnelors Association (ACA) code of ethics regarding conflict of interest to the National...
    asked 49 minutes ago
  • A fisherman's scale stretches 3.2 cm when a 2.1 kg fish hangs from it. a) What...
    asked 1 hour ago
  • Compare the American Counselors Association (ACA) code of ethics regarding referral due to dual relationship possibility...
    asked 1 hour ago