-In the Figure Above,if the Minimum Wage Is $8 Per

question 138

Multiple Choice

-In the figure above,if the minimum wage is $8 per hour,then

• A) resources used in job-search activity increase compared to the situation before the minimum wage.
• B) it is legal to hire workers for a wage below the minimum wage because otherwise unemployment would result.
• C) the deadweight loss is minimized.
• D) Both answers A and B are correct.
• E) Both answers B and C are correct.

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Definitions:

Pupil

The black circular opening in the iris of the eye, which regulates the amount of light that enters the eye.

Iris

The colored part of the eye surrounding the pupil, controlling the amount of light that enters the eye by adjusting the size of the pupil.

Absolute Threshold

The minimum intensity of a stimulus that one can detect 50 percent of the time, a concept fundamental in sensory and perception studies.

Difference Threshold

The minimum difference in stimulation that a person can detect 50 percent of the time.