Solved

If the Minimum Wage Law Sets a Wage Floor Below

Question 61

Multiple Choice

If the minimum wage law sets a wage floor below 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.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q56: One of the effects of a price

Q57: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit

Q58: 7/30/2017 4:16 PM<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt="7/30/2017 4:16

Q59: Suppose you live in New York City

Q60: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit

Q62: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit

Q63: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit

Q64: A tax placed on a good can

Q65: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit

Q66: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit