Which of the Following Statements Is Not Correct

question 95

Multiple Choice

Which of the following statements is not correct?

• A)Unions may raise wages above equilibrium because they can threaten to strike.
• B)Minimum wage laws are most likely to raise the wages of unskilled workers.
• C)Employers may voluntarily pay more than the equilibrium wage to increase worker effort.
• D)Efficiency wages explain why more efficient workers earn more than less efficient workers.

Identify the criteria and legal grounds for the enforcement of contracts related to the sale of real estate and personal property.

Understand the legal definition and obligations related to indemnity and guarantee agreements.

Interpret the doctrine of part performance and its relevance in contract law.

Recognize the legal considerations and consumer rights under the Consumer Protection Act.

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Definitions:

Wealthy

Having a substantial amount of money, assets, or resources; rich.

Nationalizing

The process by which a government takes control of a privately owned company or industry, often to assert greater control over the economy.

Product-Safety Liability

Refers to the legal obligation of manufacturers, distributors, and retailers to produce and sell products that are safe and free from defects that could harm consumers.

Taurine

A sulfur-containing amino acid that is found naturally in the body and is important in the metabolism and function of the heart muscle, retina, and brain.