Use the Following Table to Answer the Following Questions

question 107

Multiple Choice

Use the following table to answer the following questions.

-If a minimum wage is established at $7.50,what would be the amount of disequilibrium in the labor market?

• A) There would be a shortage of labor of 20,170,000.
• B) There would be a surplus of labor of 20,170,000.
• C) There would be neither a shortage nor a surplus.
• D) A labor shortage of 20,170,000 would be eliminated because individuals would decide to work in the illegal black market.
• E) A labor shortage of 20,170,000 would increase as individuals find work in the illegal black market.

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Definitions:

Online Application

A web-based form or process that allows users to submit information or requests through the internet.

Understanding of Professionalism

A comprehension of the behaviors, attitudes, and standards expected in a professional work environment.

Timeliness

is the state of being done or occurring at a favorable or appropriate time.

New Hire

An individual who has recently started employment at a company or organization, often undergoing orientation and training.