A ___________________ is created when the minimum wage is _______________ market equilibrium.
A)shortage; above
B)surplus; above
C)shortage; equal
D)surplus; equal

Question

Quizplus · Accepted Answer

When the minimum wage is set above the market equilibrium, it results in a surplus of labor because the higher wage attracts more workers than employers are willing to hire at that wage.

A ___________________ Is Created When the Minimum Wage Is _______________

A _____ Is Created When the Minimum Wage Is _