What Will a Minimum Wage Do

question 224

Multiple Choice

What will a minimum wage do

• A)It will alter both the quantity demanded and quantity supplied of labour.
• B)It will affect only the quantity of labour firms will demand at the higher wage, but does not affect the quantity supplied of labour.
• C)It will have no effect on the quantity demanded or quantity supplied of labour since the equilibrium wage will not change.
• D)It will cause only temporary unemployment, since the market will adjust and eliminate the surplus of workers.

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Definitions:

Auditory Nerve

A bundle of nerve fibers that carries hearing information from the cochlea of the inner ear to the brain.

Auditory Canal

The part of the ear through which sound waves travel to reach the eardrum.

Eardrum

A thin membrane that vibrates in response to sound waves, transmitting these vibrations to the middle ear.

Decibels

A unit of measurement for the intensity of sound, representing the ratio of a given sound pressure level to a reference level, oftentimes indicating the loudness of sound.