A Rise in the Minimum Wage Increases the Demand for Union

question 1

Multiple Choice

A rise in the minimum wage increases the demand for union labour because this policy change

• A) raises the productivity of union labour.
• B) lowers the wage rate paid to union labour.
• C) lowers the productivity of union labour.
• D) lowers the cost of a substitute for union labour.
• E) raises the cost of a substitute for union labour.

---

Definitions:

Natural Logarithm

The logarithm to the base e, where e is an irrational and transcendental number approximately equal to 2.71828.

Graph

An image that demonstrates the system of interactions or affiliations among two or more entities by employing distinctive visual tools such as dots, lines, and bars.

Logarithm

The power to which a base, often 10 or e, needs to be elevated in order to generate a specific number.

Properties of Logarithms

Rules that simplify the manipulation and solving of logarithmic equations, such as product, quotient, and power rules.