Multiple Choice
-The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $12 per hour, how many hours do students work?
A) 12,000 hours
B) 9,000 hours
C) 6,000 hours
D) None of the above answers is correct.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Suppose that the equilibrium wage in the
Q5: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q6: Why would an increase in the minimum
Q7: Search activity<br>A) occurs when there is a
Q8: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q10: Most of us are dependent on crude
Q11: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The figure above
Q12: If a minimum wage is set above
Q13: If penalties are imposed only on buyers
Q14: The Social Security tax is a tax