Multiple Choice
Which of the following is a correct statement about a minimum wage law?
A) It reduces costs for employers.
B) It ensures that all who want a job can get a job with a high enough wage.
C) It causes prices to rise as producers pay more for labor.
D) It is a price ceiling law that makes wages higher than the market equilibrium price.
E) It is a price floor law that forces wages to be lower than the market equilibrium price.
Correct Answer:
Verified
Correct Answer:
Verified
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