All of the following are true for the minimum wage, except which one?

Question

Quizplus · Accepted Answer

Minimum wage, being a type of price floor, indeed benefits some workers by ensuring they receive a minimum amount of pay for their labor. It can create a surplus of workers because at the higher wage, more people are willing to work than there are jobs available. However, it does not create a shortage of workers; rather, it can lead to unemployment or a surplus of labor because employers may hire fewer workers at the higher wage.

All of the Following Are True for the Minimum Wage