An increase in the minimum wage will tend to cause

This preview shows page 4 - 6 out of 6 pages.

8An increase in the minimum wage will tend to cause which of the following? An increase in the minimum wage will tend to cause which of the following? none of these a downward shift in the PS curve an upward shift in the PS curve Correct!an upward shift in the WS curve a downward shift in the WS curve
9Suppose that increased international trade makes product markets more competitive in the U.S. Given this information, we would expect to observe which of the following? Suppose that increased international trade makes product markets more competitive in the U.S. Given this information, we would expect to observe which of the following?
10With the real wage on the vertical axis and employment (N) on the horizontal axis, we know that: With the real wage on the vertical axis and employment (N) on the horizontal axis, we know that:
11For this question, assume that Y = N. Based on our understanding of the labor market model presented in Chapter 6, we know that a reduction in the markup will cause: For this question, assume that Y = N. Based on our understanding of the labor market model presented in Chapter 6, we know that a reduction in the markup will cause:
Correct!

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture