A minimum wage law tends to ?

Related Mcqs:

A fall in demand for labour is likely to lead to ?

A. A lower equilibrium wage and lower quantity of labour B. A lower equilibrium wage and higher quantity of labour C. A higher equilibrium wage and higher quantity of labour D. A higher equilibrium wage and lower quantity of labour...

The Marginal Revenue Product is ?

A. Upward sloping due to the law of demand B. Upward sloping due to the law of marginal utility C. Downward sloping due to the law of diminishing returns D. Downward sloping due to the law of supply...

A profit maximising firm will employ labour up to the point where ?

A. Marginal revenue = marginal product B. Marginal cost = marginal product C. Marginal revenue product = average cost of labour D. Marginal revenue product = marginal cost of labour...

Which of the following statements about efficiency wage theory is true ?

A. Paying above the competitive equilibrium wage tends to cause workers to shirk their responsibilities B. Firms do not have a choice about whether they pay efficiency wages or not because these wages are determined by law C. Paying the lowest possible wage is always the most efficient (Profitable) D. Paying above the competitive equilibrium … Which of the following statements about efficiency wage theory is true ?Read More...

Which of the following types of unemployment will exist even if the wage is at the competitive equilibrium ?

A. Unemployment due to unions B. Unemployment due to efficiency wages C. Frictional Unemployment D. Unemployment due to minimum-wage laws...