Which of the Following Statements Is Correct

question 168

Multiple Choice

Which of the following statements is correct?

• A)​If unions successfully bargain for higher wages for their union members, employment among union members will increase.
• B)​Wages are higher in nonunion jobs than in union jobs of comparable skill.
• C)​The efficiency wage model asserts that higher wages will lead to higher productivity.
• D)​The imposition of a minimum wage above the market price for unskilled labor creates a shortage of labor.

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Definitions:

Land Purchased

The act of buying land, which is considered a fixed asset and is recorded on the balance sheet at cost, without depreciation.

Intangible Asset

An asset that lacks physical substance, such as patents, trademarks, and goodwill, and provides economic benefits to its owner.

Physical Existence

The actual, tangible presence of items or assets, often verified during inventory or asset audits.

Depreciation Expense

The allocation of the cost of an asset over its useful life, reflecting the usage and wear and tear of the asset.