Solved

If We Were to Observe Above-Equilibrium Wages in a Particular

Question 384

Multiple Choice

If we were to observe above-equilibrium wages in a particular labor market, then a possible explanation might be that


A) the theory of efficiency wages holds true for that market.
B) there is a powerful labor union representing workers in that market.
C) workers are largely unskilled and/or inexperienced and minimum-wage laws are effectively holding wages up in that market.
D) All of the above are correct.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents