If a Minimum Wage Is Set Above the Equilibrium Wage

question 133

Multiple Choice

If a minimum wage is set above the equilibrium wage rate, employment

• A) will not change.
• B) will increase.
• C) will decrease.
• D) may increase, decrease or not change depending on how the supply of labour is affected by the minimum wage.

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Definitions:

Observations of Behavior

Observations of behavior involve systematically recording the actions of individuals or groups to analyze and understand their conduct.

Consciousness

The awareness of internal and external stimuli, encompassing thoughts, feelings, and surroundings.

Neuroscience

The scientific study of the nervous system, including the brain, spinal cord, and neural networks, to understand the biological basis of behavior, thought, and consciousness.

Activation-Synthesis Theory

A theory about dreaming proposing that dreams result from the brain's attempt to make sense of neural activity that occurs during sleep.