Minimum Wages Create Unemployment in Markets Where They Create a

question 5

Multiple Choice

Minimum wages create unemployment in markets where they create a

• A)shortage of labor.Unemployment of this type is called frictional.
• B)shortage of labor.Unemployment of this type is called structural.
• C)surplus of labor.Unemployment of this type is called frictional.
• D)surplus of labor.Unemployment of this type is called structural.

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Definitions:

Collective Bargaining

Negotiation between union representatives and management representatives to arrive at a contract defining conditions of employment for the term of the contract and to administer that contract.

Objectives

Specific, measurable goals that are designed to be achieved within a certain timeframe.

Data

Quantitative or qualitative values that represent information or variables, often used for analysis or to make decisions.

Checkoff Provision

Contract provision under which the employer, on behalf of the union, automatically deducts union dues from employees' paychecks.