When a Minimum Wage Is Set Above the Equilibrium Wage

question 393

Multiple Choice

When a minimum wage is set above the equilibrium wage rate

• A) the supply of low-skilled workers decreases and the supply curve shifts rightward.
• B) unemployment increases.
• C) search activity decreases.
• D) the supply of low-skilled workers increases and the supply curve shifts leftward.

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Definitions:

ON/OFF Switching

ON/OFF Switching refers to a basic control mechanism that allows electrical or electronic devices to be turned on or off with a switch.

Hot Swappable I/O Modules

Input/Output modules designed to be exchanged or replaced without shutting down the system they are part of.

Power On

The action or process of activating a device or system, providing it with electrical power to begin operation.

PLC Operating

Pertains to the functioning and management of a Programmable Logic Controller, a digital computer used for automation of electromechanical processes.