If a Minimum Wage Is Posted in the Labor Market

question 1

Multiple Choice

If a minimum wage is posted in the labor market:

• A) the demand for labor would increase.
• B) the supply of labor would decrease.
• C) a surplus of labor would develop.
• D) All of the answers are correct.

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Definitions:

Endorse

To sign the back of a check or other negotiable instrument, or to give support or approval to something or someone.

Holder

A person or entity that legally possesses a document, such as a promissory note or check, and has the right to enforce its terms.

Endorsement

A signature or statement of support for a person, product, or service, often used in the context of financial instruments to transfer rights to another party.

Transferee

The party to whom rights, titles, or interests are transferred or assigned from another party.