Multiple Choice
-In the figure above, if the minimum wage is $8 per hour, then
A) resources used in job-search activity increase compared to the situation before the minimum wage.
B) the deadweight loss is minimised.
C) it is legal to hire workers for a wage below the minimum wage because otherwise unemployment would result.
D) Both answers A and B are correct.
E) Both answers B and C are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Rent controls<br>A) create a deadweight loss.<br>B) increase
Q68: When a rent ceiling below the equilibrium
Q69: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -A price floor
Q70: Suppose the equilibrium price of a litre
Q71: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The above figure
Q72: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The above figure
Q74: Labour unions support the minimum wage because<br>A)
Q75: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The above figure
Q77: If a price ceiling is set above
Q78: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The above figure