Figure 13-1 -Refer to Figure 13-1.Based on the Graph of the Labor

question 210

Multiple Choice

Figure 13-1

-Refer to Figure 13-1.Based on the graph of the labor market above,if a minimum wage is set at $5 per hour,which of the following will occur?

• A) The unemployment rate will rise.
• B) The unemployment rate will fall.
• C) The level of unemployment will rise, but the percentage of the labor force unemployed will not change.
• D) None of the above will occur.

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Definitions:

Immigrants

Individuals who move from one country to another with the intention of settling or residing there.

United States

A country located in North America, consisting of 50 states and a federal district, known for its significant cultural, economic, and political influence globally.

Dominant Industry

An industry that holds a commanding position within an economy, often driving economic growth, attracting a significant portion of investments, and influencing labor markets.

Johnstown

A city in Pennsylvania, USA, historically known for the Johnstown Flood of 1889, one of the deadliest disasters in American history.