Solved

When a Minimum Wage Is Set Above the Equilibrium Wage

Question 82

Multiple Choice

When a minimum wage is set above the equilibrium wage rate,


A) unemployment increases.
B) the supply of low- skilled workers decreases and the supply curve shifts rightward.
C) the supply of low- skilled workers increases and the supply curve shifts leftward.
D) search activity decreases.

Correct Answer:

verifed

Verified

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

Related Questions

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