Which of the following is not correct? O 1) Frictional unemployment results from the process of matching workers and jobs. 2) Structural unemployment results when the higher wage (above equilibrium...

Extracted text: Which of the following is not correct? O 1) Frictional unemployment results from the process of matching workers and jobs. 2) Structural unemployment results when the higher wage (above equilibrium level) causes the number of jobs to be insufficient for the number of workers. 3) Minimum wages are the predominant reason for unemployment in the U.S. economy. When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the 4) quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.


Extracted text: Minimum-wage laws, unions, and efficiency wages contribute to 1) structural unemployment but not the natural rate of unemployment. 2) the natural rate of unemployment but not structural unemployment. 3) both structural unemployment and the natural rate of unemployment. 4) neither structural unemployment nor the natural rate of unemployment.