If the Minimum Wage Is Set Above the Market Wage

question 92

Multiple Choice

If the minimum wage is set above the market wage,

• A)the quantity of labour supplied will be below the quantity of labour demanded.
• B)unemployment will rise.
• C)highly-skilled workers will have a harder time finding jobs.
• D)frictional unemployment will increase.
• E)All of the above are correct.

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Definitions:

Pesticides

Chemical substances used to eliminate or control pests, including insects, weeds, and diseases, in agricultural and residential settings.

Imported Food

Food products that are produced in one country and then transported and sold in another, often raising concerns about food miles and sustainability.

Genetic Mutations

Changes in the nucleotide sequence of the genetic material of an organism, which can result in variation within the population and can be heritable.

Low Levels

Conditions or quantities that are significantly less than the average or expected amount.