If the Government Were to Intervene and Set a Wage

question 39

Multiple Choice

If the government were to intervene and set a wage for unskilled labor above the market wage,then we would expect,relative to the market outcome,

• A)an increase in the number of unskilled jobs available.
• B)a decrease in the number of unskilled jobs available.
• C)a decrease in the number of workers wanting unskilled jobs.
• D)None of the above is correct.

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Definitions:

Sales Revenue

The income generated from selling goods or services over a specific period before deducting any costs or expenses.

Accounts Receivable

Payments due to a company from its customers for the provision of goods or services, yet to be paid.

Sales Invoices

Documents issued by a seller to a buyer, detailing products or services sold, quantities, prices, and terms of sale.

Reference Column

A column in a table that is used to cross-reference or link the data in one table with data in another, facilitating data lookup and retrieval.