A minimum wage is a government-imposed price ________ that is designed to be ________ the equilibrium wage rate.
A) ceiling; above
B) ceiling; below
C) floor; above
D) floor; below
Correct Answer:
Verified
Q89: The minimum wage
A) is type of price
Q90: A minimum wage set above the equilibrium
Q91: A minimum wage set above the equilibrium
Q92: A minimum wage set above the equilibrium
Q93: When a minimum wage is set above
Q95: If policy makers believe that the equilibrium
Q96: When the minimum wage is set above
Q97: A minimum wage
A) is a price ceiling
Q98: A minimum wage set above the equilibrium
Q99: The government sets a price floor for
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