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:

Schemata

Mental structures that organize past experiences and provide a framework for understanding future ones.

Savings

Savings typically refer to the portion of income not spent on consumption, often stored for future investments or expenditures.

Recognition

The cognitive process of identifying and acknowledging the familiarity of an object, person, or information previously learned or encountered.

Free Recall

A process in memory recall where information is retrieved without being cued, recalling events or facts spontaneously.