Create a surplus or a shortage in the labor market

Reference no: EM131832845

Question: 1. If we count "discouraged workers" as unemployed when calculating the unemployment rate, does the rate more than double, less than double, or remain unchanged?

2. Let's connect the minimum wage model back to the supply and demand model of Chapter 8. Is a minimum wage a price ceiling or a price floor? Does it create a surplus or a shortage in the labor market?

Reference no: EM131832845

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