Multiple Choice
Consider the graph of the labor market shown here. If the government mandates a minimum wage of $25, there is a labor:
A) surplus of 6,000 workers.
B) surplus of 2,000 workers.
C) shortage of 2,000 workers.
D) surplus of 4,000 workers.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q49: The government raises the minimum wage. If
Q50: Which of the following people can be
Q51: Discuss the causes of the following types
Q52: If the frictional rate of unemployment is
Q53: Consider the labor market shown here. Suppose
Q55: Consider the graph of the labor market
Q56: The table shows statistics for three Canadian
Q57: (Table: Labor Force Distribution) The unemployment rate
Q58: The equilibrium unemployment rate is also known
Q59: In 2019, 10 million people did not