-All of the following,expect one,are examples of how a trade union or professional association successfully restricts the supply of labour available.Which is the exception?
A)Only licensed M.D.s (doctors)can practice medicine.
B)Only licensed pipe-fitters can open a gas line.
C)Only members of the Bar can argue a case in court.
D)Only individuals with a PhD can be employed at a university.
E)The government imposes a minimum wage law.

Question

-All of the following,expect one,are examples of how a trade union or professional association successfully restricts the supply of labour available.Which is the exception?
A)Only licensed M.D.s (doctors)can practice medicine. 
B)Only licensed pipe-fitters can open a gas line. 
C)Only members of the Bar can argue a case in court. 
D)Only individuals with a PhD can be employed at a university. 
E)The government imposes a minimum wage law.

Quizplus · Accepted Answer

Options A, B, C, and D are examples of occupational licensing or credential requirements that directly restrict who can perform certain jobs, effectively limiting the supply of labor in those professions. Option E, the imposition of a minimum wage law, does not restrict the supply of labor but rather sets a floor for wages, potentially affecting the demand for labor but not its supply.

-All of the Following,expect One,are Examples of How a Trade