Labour Unions Support the Minimum Wage Because

question 74

Multiple Choice

Labour unions support the minimum wage because

• A) it puts upward pressure on all wages.
• B) labour unions prefer to operate in black markets.
• C) the increased unemployment is good for labour.
• D) union members are usually paid the minimum wage.
• E) the value associated with the deadweight loss goes to labour unions.

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Definitions:

Multiplication Law

A probability law used to compute the probability of the intersection of two events. It is P(A ∩ B) = P(B)P(A ∣ B) or P(A ∩ B) = P(A)P(B ∣ A). For independent events it reduces to P(A ∩ B) = P(A)P(B).

Mutually Exclusive

Events that cannot occur at the same time; the occurrence of one event excludes the possibility of the other event(s).

Intersection

The set of elements common to two or more sets.

Conditional

Pertaining to expressions, statements, or functions that involve conditions where outcomes depend on fulfilling specified criteria.