Setting a Minimum Wage Above the Equilibrium Wage

question 17

Multiple Choice

Setting a minimum wage above the equilibrium wage:

• A) has no effect on unemployment, and setting a minimum wage below the equilibrium wage results in increased unemployment.
• B) results in increased unemployment, and setting a minimum wage below the equilibrium wage has no effect on unemployment.
• C) results in decreased unemployment, and setting a minimum wage below the equilibrium wage results in increased unemployment.
• D) results in increased unemployment, and setting a minimum wage below the equilibrium wage results in decreased unemployment.

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