A Minimum Wage That Is Set Below the Equilibrium Wage

question 75

Multiple Choice

A minimum wage that is set below the equilibrium wage will:

• A) cause increased unemployment.
• B) have no effect on employment.
• C) cause the overall wage to increase.
• D) cause the overall wage to decrease.
• E) create more jobs.

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Definitions:

Scatterplots

A type of plot or graphical representation used to display and assess the relationship between two quantitative variables.

Cubic Relationships

Refers to relationships between variables where one variable changes in proportion to the cube of another.

Quadratic

Pertaining to an equation, function, or term of the second degree, usually taking the form ax^2 + bx + c where a, b, and c are constants.

Direction

The course along which someone or something moves, points, or faces.