From this diagram, the minimum wage OW will lead to
...
From this diagram, the minimum wage OW will lead to
Full employment of resources
Unemployment
Inflation
Full employment of factors of production
Correct answer is D
The point OW shows that labour is highly utilized and the wage rate is competitive. This means the factors of production (labour and wage ) have been highly utilized.
Similar Questions
Two factors which can improve the efficiency of labour are________ ...
A declining population is one in which the population is ...
Which of the following budgets will increase government expenditure? ...
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is consid...
The savings deposit in a commercial bank is called ...
One of these is not an assumption of the cardinalist theory of utility? ...
In most underdeveloped countries, development plans do not achieve their objective due to ...
The difference between the gross domestic product (GDP) and gross national product (GNP) is? ...
One-man business is popular in West Africa because of all the following, except the ...