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A Minimum Wage That Is Set Above a Market's Equilibrium

Question 214

Multiple Choice

A minimum wage that is set above a market's equilibrium wage will result in


A) an excess demand for labor, that is, unemployment.
B) an excess demand for labor, that is, a shortage of workers.
C) an excess supply of labor, that is, unemployment.
D) an excess supply of labor, that is, a shortage of workers.

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