Multiple Choice
If a minimum wage law is passed imposing a price floor above the equilibrium price of unskilled labor:
A) the quantity of unskilled labor demanded will exceed the quantity of unskilled labor supplied.
B) the quantity of unskilled labor supplied will equal the quantity of unskilled labor demanded.
C) the quantity of unskilled labor supplied will exceed the quantity of unskilled labor demanded.
D) the demand for unskilled labor will decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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