Deck 28: 3: Sec 283 Mc Minimum-Wage Laws

Question 1

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $8,then how many workers will be unemployed?

A)0
B)3,000
C)4,000
D)7,000

Answer 1

A

Question 2

Minimum-wage laws

A)create unemployment.
B)do not apply in states with right-to-work laws.
C)affect highly-educated workers more than high school dropouts.
D)cause labor shortages,which further raise wages above equilibrium.

Answer 2

B

Question 3

Minimum wages create unemployment in markets where they create a

A)shortage of labor.Unemployment of this type is called frictional.
B)shortage of labor.Unemployment of this type is called structural.
C)surplus of labor.Unemployment of this type is called frictional.
D)surplus of labor.Unemployment of this type is called structural.

Answer 3

D

Question 4

If the minimum wage were currently above the equilibrium wage,then a decrease in the minimum wage that kept it above the equilibrium wage would

A)increase the surplus of labor.
B)reduce the surplus of labor.
C)increase the shortage of labor.
D)reduce the shortage of labor,

Question 5

An increase in the minimum wage

A)increases both the quantity demanded and the quantity supplied of labor.
B)decreases both the quantity demanded and the quantity supplied of labor.
C)increases the quantity of labor demanded but decreases the quantity of labor supplied.
D)decreases the quantity of labor demanded but increases the quantity of labor supplied.

Question 6

Minimum-wage laws can keep wages

A)above equilibrium and cause a surplus of labor.
B)above equilibrium and cause a shortage of labor.
C)below equilibrium and cause a surplus of labor.
D)below equilibrium and cause a shortage of labor.

Question 7

If the minimum wage is currently above the equilibrium wage,then a decrease in the minimum wage

A)increases both the quantity demanded and the quantity supplied of labor.
B)decreases both the quantity demanded and the quantity supplied of labor.
C)increases the quantity of labor demanded but decreases the quantity of labor supplied.
D)decreases the quantity of labor demanded but increases the quantity of labor supplied.

Question 8

Figure 28-3
Refer to Figure 28-3.At the equilibrium wage,how many workers are unemployed?

A)0
B)4,000
C)5,000
D)8,000

Question 9

When a minimum-wage law forces the wage to remain above the equilibrium level,it

A)raises both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level.
B)raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
C)reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level.
D)reduces both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level.

Question 10

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $8,then how many workers will be employed?

A)3,000
B)4,000
C)5,000
D)7,000

Question 11

Which of the following is not correct?

A)Frictional unemployment results from the process of matching workers and jobs.
B)Structural unemployment results when the number of jobs is insufficient for the number of workers.
C)Minimum wages are the predominant reason for unemployment in the U.S.economy.
D)When a minimum-wage law forces the wage to remain above the level that balances supply and demand,it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.

Question 12

An increase in the minimum wage

A)reduces structural unemployment.
B)reduces frictional unemployment,
C)increases structural unemployment.
D)increases frictional unemployment.

Question 13

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $4,how many workers will be employed?

A)3,000
B)4,000
C)5,000
D)7,000

Question 14

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $4,how many workers will be unemployed?

A)0
B)3,000
C)4,000
D)7,000

Question 15

Minimum-wage laws

A)reduce unemployment.
B)cause labor shortages,which further raise wages above equilibrium.
C)affect highly-educated workers more than high school dropouts.
D)None of the above is correct.

Question 16

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $4,then unemployment will increase by

A)0 workers.
B)2,000 workers.
C)4,000 workers.
D)5,000 workers.

Question 17

Minimum wages create unemployment in markets where they create a

A)shortage of labor.Minimum wage laws are not the predominant reason for unemployment in the U.S.
B)shortage of labor.Minimum wage laws are the predominant reason for unemployment in the U.S.
C)surplus of labor.Minimum wage laws are not the predominant reason for unemployment in the U.S.
D)surplus of labor.Minimum wage laws are the predominant reason for unemployment in the U.S.

Question 18

When a minimum-wage law forces the wage to remain above the equilibrium level,the result is

A)both a shortage of labor and a shortage of jobs.
B)a shortage of labor and a surplus of jobs.
C)a surplus of labor and a shortage of jobs.
D)both surplus of labor and a surplus of jobs.

Question 19

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $4,then employment will decrease by

A)0 workers.
B)2,000 workers.
C)3,000 workers.
D)4,000 workers.

Question 20

Figure 28-3
Refer to Figure 28-3.At the equilibrium wage,how many workers are employed?

A)0
B)1,000
C)5,000
D)9,000

Question 21

Minimum-wage laws are least likely to affect the wages paid to

A)teenagers.
B)low-skill workers.
C)inexperienced workers.
D)highly-educated workers.

Question 22

Figure 28-3
Refer to Figure 28-3.If unemployment is 2,000 workers,then the minimum wage must be

A)$4.
B)$5.
C)$7.
D)$8.

Question 23

Figure 28-4
​
Refer to Figure 28-4.If 12,000 workers are unemployed,then the minimum wage must be

A)$4.
B)$6.
C)$14
D)$16.

Question 24

Figure 28-4
​
Refer to Figure 28-4.If the government imposes a minimum wage of $16,how many workers will be unemployed?

A)0
B)4,000
C)8,000
D)12,000

Question 25

Figure 28-4
​
Refer to Figure 28-4.If the government imposes a minimum wage of $6,how many workers will be unemployed?

A)0
B)4,000
C)8,000
D)12,000

Question 26

Figure 28-4
​
Refer to Figure 28-4.If the government imposes a minimum wage of $10,how many workers will be unemployed?

A)0
B)2,000
C)4,000
D)8,000

Question 27

Wages in excess of their equilibrium level help explain

A)frictional but not structural unemployment.
B)structural but not frictional unemployment.
C)both frictional and structural unemployment.
D)neither frictional nor structural unemployment.

Question 28

Figure 28-4
​
Refer to Figure 28-4.If the government imposes a minimum wage of $8,how many workers will be unemployed?

A)0
B)2,000
C)4,000
D)8,000

Question 29

Workers waiting for jobs to open up is most closely associated with

A)cyclical unemployment.
B)frictional unemployment.
C)seasonal unemployment.
D)structural unemployment.

Question 30

Figure 28-4
​
Refer to Figure 28-4.If the government imposes a minimum wage of $12,how many workers will be unemployed?

A)0
B)2,000
C)4,000
D)10,000

Question 31

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $8,then employment will decrease by

A)0 workers.
B)2,000 workers.
C)3,000 workers.
D)4,000 workers.

Question 32

Workers searching for jobs that best suit them is most closely associated with

A)cyclical unemployment.
B)frictional unemployment.
C)seasonal unemployment.
D)structural unemployment.

Question 33

Minimum-wage laws are most likely to affect the wages paid to

A)teenagers.
B)people with advanced technical training.
C)people who are self-employed.
D)union members.

Question 34

Figure 28-4
​
Refer to Figure 28-4.If 4,000 workers are unemployed,then the minimum wage must be

A)$6
B)$8.
C)$12.
D)$14.

Question 35

Figure 28-3
Refer to Figure 28-3.If the government imposes a minimum wage of $8,then unemployment will increase by

A)0 workers.
B)2,000 workers.
C)4,000 workers.
D)7,000 workers.

Question 36

Figure 28-5
Refer to Figure 28-5.If the minimum wage is set at $125,then

A)the quantity of labor demanded will equal 20.
B)the quantity of labor supplied will equal 35.
C)the surplus of labor will equal 25.
D)unemployment will equal 10.

Question 37

Figure 28-4
​
Refer to Figure 28-4.If the government imposes a minimum wage of $4,how many workers will be unemployed?

A)0
B)4,000
C)6,000
D)12,000

Question 38

Figure 28-4
​
Refer to Figure 28-4.If 8,000 workers are unemployed,then the minimum wage must be

A)$6
B)$8
C)$12.
D)$14.

Question 39

If the wage is kept above the equilibrium wage for any reason,the result is

A)cyclical unemployment.
B)frictional unemployment.
C)seasonal unemployment.
D)structural unemployment.