Exhibit 10-A
Several congressmen and senators have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at W A . Their aides, who were all excellent economics students, have returned with the results of an investigation into the matter, as portrayed below.
-Refer to Exhibit 10-A.If the wage law were enacted, in the market for computer programmers a ____ would result.

Question

Exhibit 10-A
Several congressmen and senators have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at W A . Their aides, who were all excellent economics students, have returned with the results of an investigation into the matter, as portrayed below. 
-Refer to Exhibit 10-A.If the wage law were enacted, in the market for computer programmers a ____ would result.

Quizplus · Accepted Answer

Enacting a law to fix the wage rate at WS1U1B1AS1U1B0 would create a surplus of workers or a shortage of jobs, depending on whether the equilibrium wage rate was higher or lower than the fixed rate. In this case, the equilibrium wage rate is WS1U1B14, which is lower than the fixed rate. As a result, there would be a shortage of computer programmers equal to QS1U1B16S1U1B0 - QS1U1B14S1U1B0. Therefore, the correct answer is B because it represents the range of a shortage.

Exhibit 10-A Several Congressmen and Senators Have Been Greatly Concerned About the About