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Unformatted text preview: . Answer: D Diff: 2 Topic: Explaining the Existence of Unemployment Skill: Analytic AACSB: Analytic Skills 2 Tr ue /F al 1) s e If the minimum wage is set above the market clearing wage, wages will be "sticky" in the downward direction. Answer: TRUE Diff: 2 Topic: Explaining the Existence of Unemployment Skill: Conceptual AACSB: Reflective Thinking 2) Sticky wages reduce unemployment. Answer: FALSE Diff: 2 Topic: Explaining the Existence of Unemployment Skill: Fact 3) Efficiency wages are an explanation for the existence of unemployment. Answer: TRUE Diff: 2 Topic: Explaining the Existence of Unemployment Skill: Conceptual AACSB: Reflective Thinking 4) Cost of living adjustments in labor contracts offer no protection to workers from unexpected inflation. Answer: FALSE Diff: 2 Topic: Explaining the Existence of Unemployment Skill: Conceptual AACSB: Reflective Thinking 5) Efficiency wages may lower employee turnover. Answer: TRUE Diff: 1 Topic: Explaining the Existence of Unemployment Skill: Concep...
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