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Exhibit 4-7 Refer to Exhibit 4-7. How Many Fewer Persons Work in Persons

Question 107

Multiple Choice

Exhibit 4-7 Exhibit 4-7 Refer to Exhibit 4-7. How many fewer persons work in the unskilled labor market at the minimum wage (W<sub>M</sub>) than at the equilibrium wage (W<sub>1</sub>) ? A) (N<sub>2</sub> - N<sub>1</sub>) persons B) (N<sub>1</sub> - N<sub>3</sub>) persons C) (N<sub>2</sub> - N<sub>3</sub>) persons D) N<sub>3</sub> persons
Refer to Exhibit 4-7. How many fewer persons work in the unskilled labor market at the minimum wage (WM) than at the equilibrium wage (W1) ?


A) (N2 - N1) persons
B) (N1 - N3) persons
C) (N2 - N3) persons
D) N3 persons

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