Based on our understanding of the labor market model presented in Chapter 6, we know that an increase in the minimum wage will cause
A) an increase in the equilibrium real wage.
B) a reduction in the equilibrium real wage.
C) a reduction in the natural rate of unemployment.
D) both B and C
A
Economics
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An increase in nominal GDP could result from an increase in
i. production. ii. prices. iii. subsidies. A) ii only B) i and ii C) i, ii, and iii D) i only E) i and iii
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In a typical year, ________ new firms open in the United States
A) more than 400,000 B) more than 1 million C) approximately 125,000 D) less than 200,000
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