Minimum Wage Laws Can Be Expected to Reduce Employment

question 68

Multiple Choice

Minimum wage laws can be expected to reduce employment:

• A)when the specified minimum wage is greater than the equilibrium wage.
• B)when the specified minimum wage is equal to the equilibrium wage.
• C)when the specified minimum wage is smaller than the equilibrium wage.
• D)only if unscrupulous employers exploit the monopoly power that the laws provide to them.
• E)when any of the above applies depending upon other circumstances.

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Definitions:

Thymine

A nitrogenous base found in DNA, pairing with adenine in the structure of the DNA molecule.

Cytosine

Cytosine is one of the four main bases found in DNA and RNA, pairing with guanine in the genetic code.

Guanine

One of the four main nucleobases found in the nucleic acids DNA and RNA, which pairs with cytosine.

Adenine

One of the four nucleobase molecules in the nucleic acids of DNA and RNA, paired with thymine in DNA and uracil in RNA.