1.What was the percentage increase in the Ontario general minimum wage between O
ID: 1162651 • Letter: 1
Question
1.What was the percentage increase in the Ontario general minimum wage between October 1, 2016 and January 1, 2018? Round your answer to one decimal place.
________ %
Please enter 1 digit after the decimal point
2.Which of the following statements concerning the natural rate of unemployment is not correct?
A. It is the rate of unemployment at full employment.
B. It is when both frictional and structural unemployment is zero.
C. It is when the total number of job vacancies equals the number of people unemployed.
D. It is made up of both frictional and structural unemployment.
.
1.What was the percentage increase in the Ontario general minimum wage between October 1, 2016 and January 1, 2018? Round your answer to one decimal place.
________ %
Please enter 1 digit after the decimal point
2.Which of the following statements concerning the natural rate of unemployment is not correct?
A. It is the rate of unemployment at full employment.
B. It is when both frictional and structural unemployment is zero.
C. It is when the total number of job vacancies equals the number of people unemployed.
D. It is made up of both frictional and structural unemployment.
.
Explanation / Answer
Ans 1)
Minimum wage was $11.60 earlier and it is increased to $14 from January 2018
Hence an increase in % trem will be (14-11.6)/11.6=20.6896%=20.7%
Ans 2)
Natural rate of unemployment is sum of structural and frictional unemployment. If they become zero then it shouldnot exist and it is not possible
Hence option B is correct response here
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