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A Minimum Wage Set Above the Equilibrium Wage Rate Is

Question 257

Multiple Choice

A minimum wage set above the equilibrium wage rate is a price


A) ceiling that results in a shortage of low-skilled labor.
B) ceiling that results in a surplus of low-skilled labor.
C) floor that results in a shortage of low-skilled labor.
D) floor that results in a surplus of low-skilled labor.

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