If the Labor Market Is Competitive and Coverage Is Complete,then

question 32

Multiple Choice

If the labor market is competitive and coverage is complete,then legislation to enact a minimum wage above the equilibrium wage level would

• A) increase both wages and employment.
• B) decrease both wages and employment.
• C) decrease wages and increase employment.
• D) increase wages and decrease employment.

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Definitions:

Brains

The organ in the head of vertebrates that controls the body's functions and enables it to think, feel, and remember.

Skeptical

Having an attitude of doubt or a disposition to incredulity either in general or toward a particular object.

Immanuel Kant

A German philosopher in the 18th century, known for his work in epistemology, ethics, and aesthetics, emphasizing duty, moral law, and the categorical imperative.

Rationalism

A philosophy that emphasizes reason as the primary source of knowledge over sensory experience.