Refer to the information provided in Figure 2.4 below to answer the question(s) that follow. Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from

Wages that are above the wage that workers would accept, where the premium is paid to increase worker productivity, are referred to as:

A) wage floors. B) wage ceilings. C) efficiency wages. D) productivity wages.

During the past 70 years, the peak average tariff rate in the United States stemmed from the

A) creation of GATT in the middle of the 1940s. B) Kennedy Administration in the early 1960s. C) Uruguay round of GATT in the 1980s. D) Smoot-Hawley Tariff Act in the early 1930s. E) Clinton-Bush tariff of 2000-2001.