Multiple Choice
If the minimum wage was currently above the equilibrium wage, what would a decrease in the minimum wage do to the quantity demanded and quantity supplied of labour?
A) It would increase both the quantity demanded and the quantity supplied of labour.
B) It would decrease both the quantity demanded and the quantity supplied of labour.
C) It would increase the quantity of labour demanded and decrease the quantity supplied.
D) It would decrease the quantity of labour demanded and increase the quantity supplied.
Correct Answer:
Verified
Correct Answer:
Verified
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