The Long-Run Market Solution to a Wage That Is So

question 26

Multiple Choice

The long-run market solution to a wage that is so low that workers cannot survive is:

• A) the reallocation of property rights, reducing the wage of some but increasing the wage for those earning a below-subsistence wage.
• B) the reallocation of scarce resources to those who need it the most.
• C) the starvation of some low-wage workers until the supply of labor shifts to the left and the wage for survivors increases to above subsistence.
• D) government intervention into the market to establish a minimum wage so that all workers earn at least a subsistence wage.

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