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Exhibit 12-5 -Consider Exhibit 12-5. If a Union Imposes a Wage Floor

Question 145

Multiple Choice

Exhibit 12-5 Exhibit 12-5 -Consider Exhibit 12-5. If a union imposes a wage floor at $5, then A) the excess demand for labor will lead to unemployment B) the excess supply of labor will cause the wage to fall to $4 C) fewer people will be hired than would be in a competitive market D) the excess demand for labor will lead to a drop in wages E) the excess demand for labor will lead to an increase in wages
-Consider Exhibit 12-5. If a union imposes a wage floor at $5, then


A) the excess demand for labor will lead to unemployment
B) the excess supply of labor will cause the wage to fall to $4
C) fewer people will be hired than would be in a competitive market
D) the excess demand for labor will lead to a drop in wages
E) the excess demand for labor will lead to an increase in wages

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