If the Minimum Wage Is Set Above the Equilibrium Wage,after

question 113

Multiple Choice

If the minimum wage is set above the equilibrium wage,after taking into account the resources lost in job search,the firms' surplus ________ and the workers' surplus ________.

• A) increases; increases
• B) increases; decreases.
• C) decreases; increases
• D) decreases; decreases
• E) does not change; decreases

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Definitions:

Creativity

The ability to produce original and unusual ideas, or to make something new or imaginative.

Self-leadership

The practice of intentionally influencing your thinking, behavior, and feelings to achieve your objectives.

Constructive Thought Patterns

Models to help us to form positive and productive ways of thinking that can benefit our performance.

Self-reward

A personal incentive one gives oneself as a form of recognition for achieving a goal or completing a task.