If a Minimum Wage Law Is Passed Imposing a Price

question 124

Multiple Choice

If a minimum wage law is passed imposing a price floor above the equilibrium price of unskilled labor:

• A)​the quantity of unskilled labor demanded will exceed the quantity of unskilled labor supplied.
• B)​the quantity of unskilled labor supplied will equal the quantity of unskilled labor demanded.
• C)​the quantity of unskilled labor supplied will exceed the quantity of unskilled labor demanded.
• D)​the demand for unskilled labor will decrease.

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