If the Minimum Wage Is Above the Equilibrium Wage Rate,then

question 31

Multiple Choice

If the minimum wage is above the equilibrium wage rate,then an increase in the minimum wage ________ employment and ________ unemployment.

• A) increases; increases
• B) increases; decreases
• C) decreases; increases
• D) decreases; decreases
• E) does not change; increases

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Definitions:

Accrued Interest

The interest that has accumulated on a bond since the last interest payment up to, but not including, the present date.

Semiannually

A term describing events or actions that occur twice a year, typically every six months.

Investment Grade

A rating assigned to bonds that indicates they are of high quality and low credit risk.

Bond Grade

The rating assigned to a bond by credit rating agencies, reflecting the issuer's creditworthiness and the bond's risk level.