Suppose the baby boomers begin to retire and this reduces the labor-force participation rate, causing a decrease in the supply of labor at any wage. The labor supply curve (shift to the left - shift to the right). If wages freely adjust, then the wage will (decrease - increase). If wages are sticky, then the unemployment rate will (increase -decrease - remain the same) 2. During an economic expansion, we would expect the rate of (frictional - cyclical structural - real-wage) unemployment (increase - decrease) 3. Which of the items below would likely cause wage levels to be above labor market equilibrium levels? you may select more than one answer. A. An increased demand for agricultural exports causes GDP to increase. B. Workers for a large national retailer become unionized. C. A large employer in the region significantly increases its wage rates to reduce the turnover of its workers. employers are currently paying $10.50 per hour for unskilled labor construction workers to repair the damage. D. A large city decides to raise the municipal minimum wage to $10 per hour although E. A hurricane causes major damage along the Gulf Coast and there is a shortage of