Occupational licensing
A)provides access to employment opportunities for many new workers
B)typically benefits employees in the licensed occupation
C)enables the supply curves of labor to shift more readily in response to wage changes
D)is illegal in the United States
E)usually results in higher employment levels in the licensed occupation

Question

Quizplus · Accepted Answer

Occupational licensing typically benefits employees in the licensed occupation by creating barriers to entry for new competitors, leading to reduced competition and potentially higher wages. However, it can also have negative effects on consumers by limiting choices and increasing costs. Therefore, while it may benefit those already in the occupation, it may not provide access to employment opportunities for new workers and may not result in higher employment levels in the licensed occupation. It is not illegal in the United States and does not enable supply curves of labor to shift more readily in response to wage changes.

Occupational Licensing