Multiple Choice
Which of the following is an effect of a minimum wage law that establishes a ceiling wage below the current market clearing wage?
A) Surplus labor, or unemployment
B) A decrease in the market clearing wage
C) A decrease in the quantity of labor supplied
D) An increase in the quantity of labor supplied
Correct Answer:
Verified
Correct Answer:
Verified
Q63: The total gains from trade within a
Q108: People consume more fresh fruit in the
Q110: Government policies such as price controls, rent
Q112: When the government sets a maximum price
Q279: All of the following reduce the transaction
Q283: Price floors are designed to<br>A)establish a minimum
Q288: Which of the following is NOT a
Q365: Total producer surplus in a market is
Q372: Suppose a price ceiling is currently set
Q385: According to the text, during World War