If the Minimum Wage Is Set Below the Equilibrium Wage

question 4

Multiple Choice

If the minimum wage is set below the equilibrium wage, the minimum wage:

• A) will have a large effect on the market.
• B) is nonbinding.
• C) would interfere with the market reaching equilibrium.
• D) will likely affect government jobs more than any other job market.

---

Definitions:

Orientation Cells

Neurons in the visual cortex of the brain that respond preferentially to objects of specific orientations, such as vertical or horizontal.

Visuospatial Memory

The ability to remember and recall information about the spatial relationships among objects and visual features in one's environment.

Basal Ganglia

A group of nuclei in the brain involved in movement regulation, decision making, and learning.

Parahippocampal Region

An area of the brain surrounding the hippocampus, involved in memory encoding and retrieval, as well as spatial memory and navigation.