Question 14 selected answer b answers a b c to

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Question 14 Selected Answer: b. their labor earnings. government assistance. their labor earnings. rental income. Answers: a. b. c. To maintain their standard of living, most people rely on 5 out of 5 points 5 out of 5 points 5 out of 5 points 5 out of 5 points
d. their personal savings. Question 15 Answers: Refer to Figure 28-4. If the government imposes a minimum wage of $6, how many workers will be unemployed? Figure 28-4 5 out of 5 points
Question 16 Table 28-7 Below is data about the labor market in the city of Productionville. Wage Quantity Demanded Quantity Supplied $8 6,000 16,000 $7 9,000 14,000 $6 12,000 12,000 $5 15,000 10,000 $4 18,000 8,000 5 out of 5 points
Answers: a. b. c. d. Refer to Table 28-7. If the local government imposed a minimum wage of $4 in Productionville, how many people would be unemployed?
Question 17 5 out of 5 points Answers: a. b. c. d.
Question 18 Selected Answer: b. raise the wages of unionized workers and raise unemployment. reduce the wages of unionized workers and reduce unemployment. raise the wages of unionized workers and raise unemployment. reduce the wages of unionized workers and raise unemployment. raise the wages of unionized workers and reduce unemployment. Answers: a. b. c. d. Unions 5 out of 5 points
Question 19 Answers: Economists have found that union workers earn what percent more than similar nonunion workers? 5 out of 5 points
Question 20 5 out of 5 points
Answers: a. b. c. d. Consider two labor markets in which jobs are equally attractive in all respects other than the wage rate. All workers are equally able to do either job. Initially, both labor markets are perfectly competitive. If a union organizes workers in one of the markets, then the wage rates will tend to rise for the union jobs and fall for the nonunion jobs.
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