-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.

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Definitions:

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