Solved

-A Recent Article by CBS News Correspondent Bill Whitaker Discussed

Question 90

Multiple Choice

-A recent article by CBS news correspondent Bill Whitaker discussed the high level of unemployment among teens, especially during the summer months. Unemployment among the population as a whole was 9.1 percent, but among teens it was close to 24 percent. Many of these teens were hoping to get entry level jobs as small businesses. (Source: CBS news, June 4, 2011) A minimum wage set above the equilibrium wage rate is called A) a price floor. B) a price ceiling. C) quota. D) subsidy.
-A recent article by CBS news correspondent Bill Whitaker discussed the high level of unemployment among teens, especially during the summer months. Unemployment among the population as a whole was 9.1 percent, but among teens it was close to 24 percent. Many of these teens were hoping to get entry level jobs as small businesses. (Source: CBS news, June 4, 2011) A minimum wage set above the equilibrium wage rate is called


A) a price floor.
B) a price ceiling.
C) quota.
D) subsidy.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q81: A price floor is a price
A) below

Q82: -In the above</p></div><svg width=

Q83: -Which of the</p></div><svg width=

Q84: A price floor
A) always results in a

Q87: -The government sets</p></div><svg width=

Q88: -The figure above</p></div><svg width=

Q91: A minimum wage set above the equilibrium

Q93: When a minimum wage is set above

Q97: A minimum wage
A) is a price ceiling

Q100: -In the above</p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents