Figure 19-1 -The Idea That Minimum-Wage Laws Lead to Wages That Exceed

question 365

Multiple Choice

Figure 19-1

-The idea that minimum-wage laws lead to wages that exceed equilibrium levels

• A) is a component of the theory of efficiency wages.
• B) cannot be valid unless labor unions are sufficiently powerful to force enactment of those laws in the first place.
• C) is more applicable to unskilled-labor markets than to skilled-labor markets.
• D) All of the above are correct.

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Definitions:

Unfreezing

The initial stage in the change process where existing behaviors or attitudes are challenged to prepare for change.

Refreezing

The final stage of Lewin's change model where newly adopted behaviors, values, or attitudes are solidified into the organization or individual's practices, ensuring the change is sustained over time.

Change Process

The sequence of steps or actions involved in moving an organization or individual from its current state to a desired future state.

Sustainability

The ability to maintain or improve certain processes or states indefinitely without depleting resources or causing harmful impacts.