If the Minimum Wage Law Sets a Wage Floor Below

question 27

Multiple Choice

If the minimum wage law sets a wage floor below the equilibrium wage in the market for unskilled labor,then the

• A) minimum wage will create a surplus of unskilled labor.
• B) minimum wage will create a shortage of unskilled labor.
• C) minimum wage will not affect the unskilled labor market.
• D) unskilled labor market will change, but we cannot be certain how.

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Definitions:

CPT Code

A five-digit numerical code assigned to every task and service a medical practitioner may provide to a patient including medical, surgical, and diagnostic services.

Cystostomy

Cystostomy is a surgical procedure to create an opening in the urinary bladder for urine to exit the body when normal urination is not possible.

Surgery Section

A specialized department within a hospital where surgical operations are carried out.

NEC

An abbreviation for "Not Elsewhere Classified," used in coding systems to indicate items that do not fit into existing categories.