If the Minimum Wage Is Set Above the Equilibrium Wage

question 41

Multiple Choice

If the minimum wage is set above the equilibrium wage, then

• A)more people will work than at the equilibrium wage.
• B)the same number of people will work as at the equilibrium wage.
• C)fewer people will want to work than at the equilibrium wage.
• D)there will be fewer labor hours purchased by employers than at the equilibrium wage.

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Definitions:

Essential Nutrients

Nutrients that cannot be synthesized by the body and must be obtained from the diet, including certain amino acids, fatty acids, vitamins, and minerals.

Kilocalories

A unit of energy measurement in nutrition, commonly called a calorie, equivalent to 1000 small calories.

Energy Content

The amount of energy stored in a substance or system, which can be released or utilized through various processes.

Lipid

Substance composed principally of carbon, oxygen, and hydrogen; contains a lower ratio of oxygen to carbon and is less polar than carbohydrates; generally soluble in nonpolar solvents.