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If Policy Makers Believe That the Equilibrium Wage Rate Is

Question 117

Multiple Choice

If policy makers believe that the equilibrium wage rate is too low, policy makers can raise wages by legislating a minimum wage, that is, a wage


A) ceiling below the equilibrium wage.
B) ceiling above the equilibrium wage.
C) floor below the equilibrium wage.
D) floor above the equilibrium wage.

Correct Answer:

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