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:

Short-Term Memory

A memory system that temporarily holds a small amount of information for a brief period, typically from a few seconds to about a minute.

Health Assessment

The systematic process of evaluating the health status of an individual or a community, involving history taking, physical examination, and sometimes diagnostic testing.

Legal Document

A formal document that states some contractual relationship or grants some right.

Line Drawings

Simplified drawings consisting of lines without shading or detail, often used for illustrative and educational purposes.