Consider Two Labor Markets

question 89

Multiple Choice

Consider two labor markets.In the first,the elasticity of supply is relatively elastic,while it is relatively inelastic in the latter.Imposing a minimum wage in each market would result in ________ unemployment in the first market and ________ unemployment in the second.

• A) lower; lower
• B) higher; higher
• C) unchanged; unchanged
• D) lower; higher
• E) higher; lower

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Definitions:

Enterprise Levels

refers to the different layers or strata within an organization or business, including strategic, operational, and tactical levels, each with specific roles and responsibilities.

Employer Associations

Organizations formed by employers to promote their collective interests, typically in labor negotiations and public policy advocacy.

Union Leadership

Refers to individuals or a group of individuals who are elected or appointed to govern and represent a labor union, making decisions and acting as intermediaries between the union's membership and employers.

Rank and File

The regular members of an organization, particularly in military or labor union contexts, as distinct from the leadership or command structures.