Multiple Choice
If we assume that the current equilibrium wage for low-skilled labor is $8 per hour and the minimum wage is increased from $5.75 to $7.25 per hour, then
A) unemployment among low-skilled workers will increase.
B) unemployment among low-skilled workers will remain unaffected.
C) unemployment among low-skilled workers will decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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