A wage is the price for labor. A minimum wage set above equilibrium wage would be an example of:
A: . a price ceiling.
B: . a price floor.
C: . a gap in prices or wages.
D: . a wage settlement.
A: . a price ceiling.
B: . a price floor.
C: . a gap in prices or wages.
D: . a wage settlement.
举一反三
- The minimum wage is an example of() A: a price ceiling. B: a price floor. C: a free-market<br/>process. D: an efficient labor<br/>allocation mechanism.
- A minimum wage set above the equilibrium minimum wage will most likely have which of the following effects（） A: It will have no effects. B: Unemployment will rise. C: There will be a shortage of workers.
- The problem of unemployment will arise ______. A: if the minimum wage is set too high B: ff the minimum wage is set too love C: if the workers are unskilled D: if the maximum wage is set
- Labor contracts that include so-called COLA provisions A: tend to link money wages to price increases B: serve to preserve the purchasing power of workers C: are a common form of wage indexation in many labor markets D: often tie nominal wages to a specific price index E: all of the above
- The price of leisure is an individual's wage, and this is the opportunity cost of not working.