Figure 9-1 -Refer to Figure 9-1.Based on the Graph of the Labor

question 104

Multiple Choice

Figure 9-1
-Refer to Figure 9-1.Based on the graph of the labor market above,if a minimum wage is set at $5 per hour,which of the following will occur?

• A)The unemployment rate will rise.
• B)The unemployment rate will fall.
• C)The level of unemployment will rise,but the percentage of the labor force unemployed will not change.
• D)None of the above will occur.

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Definitions:

Caveat Emptor

A Latin phrase meaning "let the buyer beware," indicating that the buyer assumes the risk for the quality and condition of goods purchased unless they are protected by warranty.

Disclosures

The act of making known to the public or to relevant parties important information, often related to financial data or operational details, required by law or regulation.

Sublease

An arrangement where the original tenant leases part or all of the leased property to another party.

Landlord

An individual or entity that owns property and rents it out to tenants.