Multiple Choice
Minimum wage laws
A) creates a surplus of labor in markets where the equilibrium wage is above the minimum wage.
B) cannot be valid unless labor unions are sufficiently powerful to force enactment of those laws in the first place.
C) are likely to have a greater effect on unskilled-labor markets than on skilled-labor markets.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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