Minimum Wage Laws

question 455

Multiple Choice

Minimum wage laws

• A)creates a surplus of labor in markets where the equilibrium wage is above the minimum wage.
• B)cannot be valid unless labor unions are sufficiently powerful to force enactment of those laws in the first place.
• C)are likely to have a greater effect on unskilled-labor markets than on skilled-labor markets.
• D)All of the above are correct.

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