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Assume That a Minimum Wage Law Is Enacted and Imposed

Question 1

Multiple Choice

Assume that a minimum wage law is enacted and imposed on an otherwise perfectly competitive labor market. We can expect all of the following except


A) the number of people seeking employment to increase.
B) some people to be laid off.
C) the number of laborers demanded to decrease.
D) a greater unemployment rate.
E) more people to gain employment.

Correct Answer:

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