Minimum Wage Laws

question 455

Multiple Choice

Minimum wage laws

• A)creates a surplus of labor in markets where the equilibrium wage is above the minimum wage.
• B)cannot be valid unless labor unions are sufficiently powerful to force enactment of those laws in the first place.
• C)are likely to have a greater effect on unskilled-labor markets than on skilled-labor markets.
• D)All of the above are correct.

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Definitions:

Peer-To-Peer Networks

A decentralized network architecture where each participant (peer) has equal privileges and can both use and provide resources.

Centralized Networks

Network architecture where all communications are routed through a central node, making data management centralized.

Star Topology

The most widely deployed client/server network topology, where the nodes connect to a central communications device called a switch in a pattern resembling a star.

Central Communications Device

A pivotal piece of networking hardware that facilitates the transmission and routing of data between different nodes in a network.