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.

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Definitions:

Intention Regarding Behavior

A person's commitment or decision to perform a specific behavior or action.

Attitude

A psychological construct representing an individual's degree of like or dislike, favor or disfavor, toward an object, person, thing, or event.

Self-Efficacy

An individual's belief in their own ability to complete tasks and achieve goals, affecting motivation and performance in various settings.

Smoking Relapse

A return to smoking cigarettes or using tobacco products after an attempt to quit.