Efficiency Wages, Minimum-Wage Laws, and Unions All

question 24

Multiple Choice

Efficiency wages, minimum-wage laws, and unions all

• A)keep wages below the equilibrium level, causing a shortage of labor.
• B)keep wages below the equilibrium level, causing a surplus of labor.
• C)keep wages above the equilibrium level, causing a shortage of labor.
• D)keep wages above the equilibrium level, causing a surplus of labor.

---

Definitions:

Properly Payable

A term referring to checks or other negotiable instruments that meet all requirements for payment by the financial institution on which they are drawn.

Re credit

A review or reevaluation of an individual's or entity's credit situation, often with the aim of improving their credit score or terms of credit.

Virtual Currencies

Digital or online currencies that use cryptography for security and operate independently of a central bank.

Point-of-sale Terminals

Electronic systems used at retail locations to process card payments and manage sales transactions.