Minimum-Wage Laws and Unions Are Similar to Each Other but Different

question 5

Multiple Choice

Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions

• A)cause unemployment,but efficiency wages do not.
• B)cause the quantity of labor supplied to exceed the quantity of labor demanded,but efficiency wages do not.
• C)cause wages to be above the equilibrium level.
• D)prevent firms from lowering wages in the presence of a surplus of workers.

---

Definitions:

Counseling Psychology

A field of psychology focused on facilitating personal and interpersonal functioning across the lifespan, emphasizing emotional, social, vocational, educational, health-related, developmental, and organizational concerns.

Mental Illness

A wide range of mental health conditions that affect mood, thinking, and behavior, impacting day-to-day living and possibly requiring medical treatment.

Bystander Effect

Bystander Effect is a social psychological phenomenon where individuals are less likely to offer help to a victim when other people are present, often due to the diffusion of responsibility.

Helplessness

A state of being unable to act or achieve goals due to perceived lack of control, often resulting in decreased motivation.