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When a Minimum-Wage Law Forces the Wage to Remain Above

question 205

True/False

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is lower and the quantity of labor demand is higher than at the equilibrium wage.


Definitions:

Accuracy

The extent to which the outcome of a measurement, calculation, or specification matches the true value or a standard.

False News

Incorrect or misleading information presented as news, often with the intention of deceiving the audience.

Intentionally

Acting with a purpose or design, doing something on purpose.

Misinformation

Incorrect or misleading information that is communicated regardless of an intention to deceive.

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