Assume the Minimum Wage Exceeds the Market-Clearing Wage

question 66

Multiple Choice

Assume the minimum wage exceeds the market-clearing wage. If there is an increase in the labor supply, then the number of workers who are unemployed will ______ and the number of workers who are employed will _______.

• A) increase; increase
• B) increase; decrease
• C) increase, not change
• D) decrease; increase

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Definitions:

Peristalsis

The series of wave-like muscle contractions that moves food through the digestive tract.

Heart Rate

The number of heartbeats per unit of time, usually measured in beats per minute (bpm), indicating cardiovascular health and activity level.

CT Scans

Medical imaging procedures that use computer-processed combinations of multiple X-ray measurements taken from different angles to produce cross-sectional images of specific areas of a scanned object, allowing the user to see inside without cutting.

MRI Scans

A medical imaging technique that uses powerful magnets and radio waves to create detailed images of the organs and tissues within the body.