The Existence of Union Wages, Efficiency Wages, and the Minimum

question 151

Multiple Choice

The existence of union wages, efficiency wages, and the minimum wage

• A)raises the real wage rate above the equilibrium wage rate and lowers the natural unemployment rate.
• B)does not have an impact on the equilibrium wage rate or on the amount of unemployment.
• C)raises the real wage rate above the equilibrium wage rate and raises the natural unemployment rate.
• D)lowers the real wage rate below the equilibrium wage rate and creates a shortage of labor.
• E)raises the real wage rate above the equilibrium wage rate and creates a shortage of labor.

---

Definitions:

Common Stock

Common stock represents units of ownership in a corporation, granting holders voting rights and a share in the company's profits, often through dividends.

Ending Balance

The amount in an account at the end of an accounting period after all debits and credits have been accounted for.

Asset (A)

Resources owned by a company that have economic value and can provide future benefits.

Liability (L)

Financial obligations, debts, or responsibilities the company owes to others, measurable in monetary terms.