Solved

If the Minimum Wage Is Set Above the Equilibrium Market

Question 81

Multiple Choice

If the minimum wage is set above the equilibrium market wage, it:


A) increases unemployment.
B) is effective and reduces unemployment.
C) equals the black market wage.
D) is lower than firms are willing to pay for labor.
E) does not affect the market equilibrium.

Correct Answer:

verifed

Verified

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

Related Questions