Suppose the Equilibrium Wage Rate for Apricot Pickers Is $7

question 15

Multiple Choice

Suppose the equilibrium wage rate for apricot pickers is $7.00 per hour and at that wage rate the equilibrium quantity of apricot pickers employed is 14,000.If the minimum wage is set at $7.50 per hour,then the

• A) quantity of apricot pickers employed increases.
• B) quantity of apricot pickers employed decreases.
• C) quantity of apricot pickers employed does not change.
• D) wage rate for apricot pickers decreases.
• E) quantity of apricot pickers demanded does not change, and the quantity of apricot pickers supplied does not change.

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Employment Opportunities

Available positions or jobs within the economy that employ individuals to work.

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Nations with the lowest indicators of socioeconomic development, often characterized by low GDP per capita, poor infrastructure, and high levels of poverty.

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The total population within a certain area or nation.

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The average number of children born to a woman over her lifetime in a specific population.