Which of the Following Statements Is NOT Correct

question 190

Multiple Choice

Which of the following statements is NOT correct?

• A) Unions can raise the wages of particular classes of workers.
• B) Unions are the fundamental reason why wages are high in the wealthy countries.
• C) High wages of physicians are due to the restriction of physician supply.
• D) Less unionized Britain has grown more rapidly than the more unionized France.

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Definitions:

Minimum Wages

The lowest legal wage that can be paid to workers, set by government laws to protect employees from unduly low pay.

Structural Unemployment

A type of unemployment that results from a mismatch between the skills that workers offer and the skills demanded by employers.

Surplus of Labor

A situation in which the supply of labor exceeds the demand for labor, often resulting in unemployment or underemployment.

Minimum-Wage Law

Legislation that sets the lowest hourly wage rate that an employer can legally pay its workers, intended to protect workers from exploitation.