The effect of legislation establishing a minimum wage above the market clearing wage is
A) unemployment.
B) a shortage of labor.
C) higher wages for all workers.
D) a shift of the demand for labor curve.
A
You might also like to view...
In the United States, government-imposed price supports are most often associated with
A) agricultural products. B) industrial products. C) consumer electronics. D) commercial building products.
Efficiency
a. and equality both refer to how much a society can produce with its resources. b. and equality both refer to how fairly the benefits from using resources are distributed between members of a society. c. refers to how much a society can produce with its resources. Equality refers to how evenly the benefits from using resources are distributed among members of society. d. refers to how evenly the benefits from using resources are distributed between members of society. Equality refers to how much a society can produce with its resources
A Starbucks Grande Latte costs $3.75 in the U.S. and 28 yuan in China. The nominal exchange rate is 6.75 yuan per dollar. The real exchange rate is
a. 1.106 . If purchasing-power parity held the nominal exchange rate would be higher. b. 1.106 . If purchasing-power parity held the nominal exchange rate would be lower. c. .904 . If purchasing power parity held the nominal exchange rate would be higher. d. .904 . If purchasing-power parity held the nominal exchange rate would be lower.
The most likely effect of reducing performance-based rewards for the CEOs of corporations would be:
A. an increase in profits. B. a drop in revenues. C. an increase in the value of the corporation. D. a drop in profits.