Graph 28-1 -The Government Has Introduced the Minimum Wage Law. the Minimum

question 7

Multiple Choice

Graph 28-1

-The government has introduced the minimum wage law. The minimum wage is set at W₁ as shown in Graph 28-1. After introducing the minimum wage law, the quantity of labour supplied is _______

• A) L₀, the quantity of labour demanded is L₀ and the amount of unemployed labour is zero
• B) L₀, the quantity of labour demanded is L1and the amount of unemployed labour is L₀-L₁
• C) L₂, the quantity of labour demanded is L₀ and the amount of unemployed labour is L₂-L₀
• D) L₂, the quantity of labour demanded is L₁ and the amount of unemployed labour is L₂-L₁

---

Definitions:

Sampling Distribution

Distribution of likelihood for a distinct statistic, emanating from a random selection.

Examination Time

Examination time refers to the duration allocated for the completion of an examination or test.

Descriptive Measure

Statistical calculations that describe the main features of a collection of data in quantitative terms.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical information about the population.