FIGURE 14- 2

question 4

Multiple Choice

FIGURE 14- 2
-Refer to Figure 14- 2.Suppose the labour market is perfectly competitive.If a minimum wage of W4 is then established,the predicted change in the wage is

• A)a decrease in the wage paid.
• B)an increase in the wage paid.
• C)no change in the wage paid.
• D)an increase equal to W1 - W4.
• E)a decrease equal to W1 - W4.

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Definitions:

Staffing

The process of finding, recruiting, and training individuals to fill roles within an organization.

Valuable Resources

Assets, both tangible and intangible, that are of significant worth and importance to an individual, organization, or society.

Hiring Minorities

The practice of recruiting and employing individuals from underrepresented groups based on race, ethnicity, or other minority status.

No-layoff Policy

A commitment from an organization not to terminate employment for economic reasons, aiming to provide job security for employees.