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

question 45

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 quantity of unskilled labor demanded.
• B) A decrease in the quantity of unskilled labor supplied.
• C) A shortage of unskilled labor.
• D) A surplus of unskilled labor (unemployment).

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