What Results When the Minimum Wage Is Above the Equilibrium

question 248

Multiple Choice

What results when the minimum wage is above the equilibrium wage

• A)The quantity demanded of labour will be greater than the quantity supplied.
• B)The quantity demanded of labour will equal to the quantity supplied.
• C)The quantity demanded of labour will be less than the quantity supplied.
• D)Anyone who wants a job at the minimum wage can find one.

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Definitions:

Foreign Allies

Countries that form partnerships or alliances with one another, often for mutual benefit such as defense, security, or economic cooperation.

Union Officers

Military leaders or officials in the Union army during the American Civil War.

Confederacy

A league or alliance, especially of states or groups. Historically, it also refers to the Confederate States of America, a collection of 11 southern states that seceded from the United States in 1860-1861.

Northern Officers

Military leaders from the Northern states of the United States, notably the Union side during the American Civil War, who held command positions.