An Increase in the Federal Minimum Wage, Assuming the Minimum

question 17

Multiple Choice

An increase in the Federal minimum wage, assuming the minimum is higher than equilibrium wage and that all other things remain constant, will:

• A) reduce the number of unemployed.
• B) increase the number of unemployed.
• C) shift the supply of labor to the right.
• D) shift the demand of labor to the right.

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Definitions:

Motivations

The reasons or driving forces behind individuals' actions or behaviors, stemming from personal desires, needs, or specific goals.

Watching

The act of observing or monitoring activities, behaviors, or phenomena, often for information gathering, entertainment, or supervision.

Research Project

A systematic investigation into a specific question or problem using scientific methods to gather data, analyze results, and draw conclusions.

Control Variable

A control variable is a factor in scientific experiments that is kept constant to test the relative impact of an independent variable.