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If the Minimum Wage Law Sets a Price Floor Above

Question 96

Multiple Choice

If the minimum wage law sets a price floor above the equilibrium wage in the market for unskilled labor,then the


A) minimum wage will create a surplus of unskilled labor.
B) minimum wage will create a shortage of unskilled labor.
C) minimum wage will not impact the unskilled labor market.
D) unskilled labor market will change,but we cannot be certain how.

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