If the Minimum Wage Is Set

question 43

Multiple Choice

If the minimum wage is set

• A) below the equilibrium wage, it will create unemployment.
• B) above the equilibrium wage, it will create unemployment.
• C) equal to the equilibrium wage, it will create a shortage of labor.
• D) below the equilibrium wage, it will create a shortage of labor.
• E) equal to the equilibrium wage, it will create a surplus of labor.

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Definitions:

Legumes

A group of plants including beans, peas, and lentils, known for their high protein and fiber content, and beneficial for heart health and weight management.

Healthy Snack

A nutritious food option consumed between meals that contributes to overall health and satisfies hunger, often including fruits, vegetables, whole grains, or nuts.

Potato Chips

Thin slices of potato that are either deep fried or baked until crispy, often seasoned and served as a snack.

Nonfat Yogurt

Yogurt made without any fat content, often used as a dietary choice for those reducing fat intake.