Pre-Test Chap 13 e18 - Pre-Test Chap 13 e18 Student 1 Craft...

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Pre-Test Chap 13 e18 Student: ___________________________________________________________________________ 1. Craft unions typically attempt to increase wage rates for their members by: A. Organizing all of the employees in a factory or industry B. Opposing increases in the minimum wage which benefit nonunion workers C. Supporting regulations and policies which increase the price of complementary resources D. Restricting the supply of skilled workers through worker licensing and training requirements 2. Refer to the above graph. It shows a firm which buys its inputs and sells its output in competitive markets. If labor productivity decreases, the equilibrium level of employment for this firm is expected to be: A. L 0 B. Zero C. Lower than L 0 D. Higher than L 0 3. Critics contend that imposing a minimum wage higher than the equilibrium wage in a competitive industry would: 4. Supporters of the minimum wage contend that it:
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