A legislated minimum wage
A) will have the same wage and employment effects in competitive and monopsonistic labour markets.
B) in a monopsonistic labour market, if binding, may increase wage rates but it must decrease employment.
C) in a competitive labour market, if binding, may increase wages and will increase employment.
D) will have no effect if the market is monopsonistic.
E) in a monopsonistic labour market, if set equal to the competitive wage, will increase wages and employment.
Correct Answer:
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Q26: The average union wage premium in Canada
Q27: Unions currently represent employed workers in Canada.
A)
Q28: Q29: In a perfectly competitive labour market, all Q30: Suppose there is a competitive market for Q32: The union wage premium refers to the Q33: Suppose market E discriminates against one group Q34: The diagram below shows the supply and Q35: Unions currently represent public- sector workers in Q36: In Canada in 2008, the share of
A)
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