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-A Minimum Wage That Is Above the Equilibrium Wage Rate

question 5

Multiple Choice

  -A minimum wage that is above the equilibrium wage rate A)  increases efficiency within the labour market. B)  creates a deadweight loss. C)  increases the quantity of labour demanded. D)  has no effect on the labour market because it is set above the equilibrium wage rate. E)  None of the above answers is correct.
-A minimum wage that is above the equilibrium wage rate

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Definitions:

Disengagement

The process of detaching or withdrawing from involvement in a particular activity, situation, or group.

Positive Feedback

Encouraging comments or actions that affirm someone's behavior or performance, often motivating continued or improved effort.

Negative Feedback

A type of constructive criticism that points out what was done wrong or what needs improvement, which can be essential for progress.

Decreasing Rigid Structures

The act of making systems, processes, or organizations more flexible, adaptable, and less strictly controlled.

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