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Assume the Minimum Wage Exceeds the Market-Clearing Wage

Question 48

Multiple Choice

Assume the minimum wage exceeds the market-clearing wage. If there is an increase in the supply of labor then the number of workers who are unemployed will ________, and the number of workers who are employed will ________.


A) increase; increase
B) increase; decrease
C) increase; not change
D) decrease; increase

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