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B the supply curve would be perfectly elastic for all

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B. the supply curve would be perfectly elastic for all workers and the MRC curve would coincide with it. C. the supply curve would be perfectly elastic for the first four workers and the MRC would be $6 for the first four workers. D. eight workers would be hired. 126.Refer to the above labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. An inclusive union could increase the level of employment above that which the monopsonist would provide if it could get the monopsonist to agree to any wage rate: A. below $7. B. between $5 and $8. C. above $5. D. above $8.
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127.Minimum-wage legislation is less likely to have adverse effects on employment when the: A. affected labor market is monopsonistic. B. economy has high unemployment. C. derived demand for labor is shifting to the left. D. affected labor market is perfectly competitive. 128.Critics of minimum-wage legislation argue that it: A. keeps inefficient producers in business. B. reduces employment. C. undermines incentives to work. D. is deflationary. 129.Many economists are critical of the minimum wage because they believe that it: A. hurts the efforts of labor unions. B. reduces the number of available job opportunities. C. conflicts with policies designed to equalize the distribution of income. D. causes labor shortages in affected markets. 130.Unions might support a higher minimum wage because: A. their constitutions obligate them to do so. B. they feel a higher minimum wage will lower labor's tax payments for welfare programs. C. a higher minimum wage makes less-skilled workers less substitutable for union workers. D. the minimum wage is better targeted than are alternative income-maintenance programs. 131.Critics of the minimum wage argue that as an antipoverty device it is "poorly targeted." By this they mean that: A. the minimum wage only applies to a small percentage of the labor force. B. many who benefit from the minimum wage are not poor. C. the government has been unable to enforce the minimum wage. D. the average level of wages in the economy is considerably higher than the minimum wage. 132.If the minimum wage is set too high, in some labor markets we can expect to see: A. a shortage of labor. B. an increase in on-the-job training. C. a surplus of labor. D. a decline in wage costs. 133.Increases in the Federal minimum wage during the 1990s: A. reduced the demand for workers who were earning more than the minimum wage. B. demonstrated that the demand for teenage labor is highly elastic. C. produced smaller decreases in teenage employment than did previous minimum wage hikes. D. helped reduce poverty substantially in the United States.
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B the supply curve would be perfectly elastic for all...

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