Multiple Choice
Which of the following statements accurately characterizes the effects of minimum-wage laws?
A) Any worker who wants to work at the minimum wage will be employed at that wage.
B) Those workers who remain employed are hurt by a lower wage.
C) The effects of minimum-wage laws do not depend on the elasticity of labor supply.
D) The effects of minimum-wage laws depend strongly on the elasticity of labor demand.
Correct Answer:
Verified
Correct Answer:
Verified
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