Question : 81) Refer to Figure 14-5. Suppose this labour market competitive. : 1384292

 

81) Refer to Figure 14-5. Suppose this labour market is competitive. If a minimum wage of W4 is then imposed, the number of unemployed workers would be

A) 0Q1.

B) Q5 – Q1.

C) Q3 – Q1.

D) 0Q3.

E) 0Q5.

82) Refer to Figure 14-5. Suppose the labour market is competitive. If a minimum wage of W3 is then imposed, the number of unemployed workers would be

A) 0Q2.

B) Q3 – Q1.

C) Q3 – Q2.

D) Q4 – Q2.

E) 0Q4.

83) Refer to Figure 14-5. If this labour market is monopsonistic, an increase in the minimum wage from W2 to W3 would

A) have no effect on employment.

B) create unemployment where there previously was none.

C) increase employment from what would have initially occurred.

D) create unemployment in other minimum wage sectors.

E) increase employment in this industry but decrease it in other industries.

84) Which of the following statements about minimum-wage laws is most accurate?

A) All Canadian provinces have the same minimum wage.

B) There is some evidence that minimum-wage laws cause additional unemployment, particularly among youths.

C) Minimum-wage laws only affect the income of the higher-skilled, lowest-wage workers.

D) Minimum-wage laws are unfair.

E) There is some evidence that minimum-wage laws create a lot of jobs, particularly among youths.

85) Canadian studies on the effects of minimum-wage laws

A) suggest that they have no effect whatsoever on employment.

B) support the evidence from the United States that these laws increase wages and employment.

C) support the theoretical predictions that minimum-wage laws increase employment.

D) find that employment increases with increases in minimum wages, thus supporting the argument that labour markets are monopsonistic.

E) find that they decrease the level of employment, particularly for low-skilled workers.

86) Refer to Figure 14-3. Suppose the teenage babysitters in one local area are earning an equilibrium wage of $6 per hour. Now suppose that the local government imposes a minimum wage of $8 per hour for babysitters. Which diagram illustrates the new supply curve (SA) for babysitters?

A) diagram 1

B) diagram 2

C) diagram 3

D) none of the diagrams

E) any of the diagrams

87) Refer to Figure 14-3. Suppose the teenage babysitters in one local area are earning an equilibrium wage of $6 per hour. Now suppose the local government reduces the minimum age for working as a babysitter from 14 to 12 years of age. Which diagram illustrates the new supply curve (SA) for babysitters?

A) diagram 1

B) diagram 2

C) diagram 3

D) none of the diagrams

E) any of the diagrams

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

88) Refer to Table 14-1. In a competitive labour market, a legislated minimum wage imposed at $10 per hour would

A) have no effect on the competitive equilibrium level of employment.

B) lead to unemployment of 500 hours/month.

C) lead to over-employment of 500 hours/month.

D) lead to an equilibrium wage higher than the competitive wage.

E) lead to an employment level lower than the competitive level.

89) Refer to Table 14-1. In a competitive labour market, a legislated minimum wage imposed at $14 per hour would

A) have no effect on the competitive equilibrium level of employment.

B) have no effect on the competitive equilibrium wage.

C) lead to unemployment of 500 hours/month.

D) lead to unemployment of 300 hours/month.

E) lead to an equilibrium wage lower than the competitive wage.

90) In general, in collective bargaining between a labour union and a firm, the

A) union sets the wage and the employer decides how much labour will be hired.

B) employer sets the wages and the union decides how many workers will be hired.

C) wage is negotiated, whereas the firm is generally free to choose the level of employment.

D) wage and the number of workers to be hired is negotiated.

E) only the level of employment is negotiated.