The government of Lithusia has set a minimum wage for factory workers.This will lead to an ________ if the minimum wage is above the current market wage.
A) increase in total surplus
B) increase in the number of workers supplied
C) excess demand for workers
D) increase in income inequality
Correct Answer:
Verified
Q154: A price floor is the _.
A) maximum
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Q157: The figure below shows the market for
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Q161: Scenario: Consider the following figure, which shows
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Q163: Scenario: Consider the following figure, which shows
Q164: When is a price ceiling ineffective?
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