If an Increase in the Government-Imposed Minimum Wage Pushes the Price

question 169

Multiple Choice

If an increase in the government-imposed minimum wage pushes the price (wage) of unskilled labor above market equilibrium, which of the following will most likely occur in the unskilled labor market?

• A) an increase in demand for unskilled labor
• B) a decrease in the supply of unskilled labor
• C) a shortage of unskilled labor
• D) a surplus of unskilled labor

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Definitions:

Hidden Area

In the context of the Johari Window, it refers to information about oneself that is known to others but unknown to oneself.

One-Way Communication

A form of communication where information flows from the sender to the receiver without any feedback or interaction from the latter.

Leveling

Leveling refers to the process of making things equal or equivalent, especially in the context of communication, it can mean ensuring all parties have the same information.

Communication Step

A fundamental component or phase in the process of transmitting information from one entity to another.