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If an Increase in the Government-Imposed Minimum Wage Pushes the Price

Question 151

Multiple Choice

If an increase in the government-imposed minimum wage pushes the price (wage) of unskilled labor above market equilibrium, which of the following will most likely occur in the unskilled labor market?


A) an increase in quantity of unskilled labor demanded
B) a decrease in the quantity of unskilled labor supplied
C) a shortage of unskilled labor
D) a surplus of unskilled labor (unemployment)

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