Labor Unions Support the Minimum Wage Because

question 44

Multiple Choice

Labor unions support the minimum wage because

• A) the increased unemployment is good for labor.
• B) the value associated with the deadweight loss goes to labor unions.
• C) labor unions prefer to operate in black markets.
• D) it puts upward pressure on all wages.
• E) union members are usually paid the minimum wage.

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Definitions:

Held For Sale

A designation for assets or groups of assets and liabilities that a company intends to sell within one year from the date of classification.

Fair Value

An estimate of the market value of an asset or liability, based on current prices in an active market or derived from a model if no direct market price is available.

Control Criterion

A principle or standard used to determine whether one entity has the power to direct the financial and operating policies of another to gain economic benefits.