In the absence of minimum wages, efficiency wages, or labor unions, a decline in the demand for labor will likely result in _____ if wages are flexible.
A) higher levels of employment
B) no changes in employment
C) a lower level of employment but likely no change in the unemployment rate
D) a lower level of employment and a higher unemployment rate

Question

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The Answer of In the absence of minimum wages, efficiency wages, or labor unions, a decline in the demand for labor will likely result in _____ if wages are flexible.
A) higher levels of employment
B) no changes in employment
C) a lower level of employment but likely no change in the unemployment rate
D) a lower level of employment and a higher unemployment rate

In the Absence of Minimum Wages, Efficiency Wages, or Labor