-In the Figure Above, If the Minimum Wage Is $2

question 52

Multiple Choice

-In the figure above, if the minimum wage is $2 per hour, then

• A) the quantity of labor supplied is 4 million hours and the quantity of labor demanded is 2 million hours.
• B) the quantity of labor demanded is 4 million hours and the quantity of labor supplied is 2 million hours.
• C) unemployment is 1 million hours.
• D) the quantity of labor supplied is 3 million hours and the quantity of labor demanded is 3 million hours.

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Definitions:

Nonconductive

A property of a material that does not allow electric current to flow through it easily.

Insulation

A resistive coating that prevents the flow of electrons.

Mil-foot

A unit of measurement used in the United States to denote the product of a material's thickness in mils and its length in feet, commonly applied in the measurement of wire cross-sectional area.

Maximum Operating

Refers to the highest operational limit in terms of performance, temperature, pressure, or other relevant parameters under which a device or machine can safely function.