The Table Below Shows the Labour Demand and Labour Supply

question 77

Multiple Choice

The table below shows the labour demand and labour supply schedules in a competitive labour market.
TABLE 14-1
-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.

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Definitions:

Lack of Conscience

Describes a condition or personality trait where an individual shows no feelings of guilt or remorse for actions that can harm others, often associated with antisocial personality disorder.

Borderline Personality Disorder

A mental health disorder noted for a pervasive pattern of instability in interpersonal relationships, self-image, and emotions.

Emotional Roller Coaster

An intense or turbulent set of emotional experiences that are often rapidly and unpredictably changing.

Antisocial Personality Disorder

A psychological disorder marked by a persistent behavior of manipulation, exploitation, or infringement on others' rights.