According to the Case in Point on the Monopsony-Minimum Wage

question 94

Multiple Choice

According to the Case in Point on The Monopsony-Minimum Wage Controversy, the fact that some studies have found that increases in the minimum wage have led to either increased employment or no significant reductions in employment:

• A) confirms that a perfectly competitive labor market exists.
• B) suggests that a perfectly competitive labor market may not exist.
• C) implies that a bilateral monopoly exists in the market for unskilled labor.
• D) none of the above

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Definitions:

Unintended

Something not planned or meant to happen; outcomes or effects that are unforeseen.

Industrialized Countries

Nations characterized by a high level of development and a strong economy, with a significant emphasis on manufacturing and technology.

Disclosure

The action of making new or secret information known.

Smoking

The act of inhaling and exhaling the smoke of burning plant material, most commonly tobacco, which is known to cause health problems.