Multiple Choice
-In the figure above, if the minimum wage is $9 per hour, then
A) the quantity of labor supplied is 4 million hours and the quantity of labor demanded is 2 million hours.
B) the quantity of labor demanded is 4 million hours and the quantity of labor supplied is 2 million hours.
C) unemployment is 1 million hours.
D) the quantity of labor supplied is 3 million hours and the quantity of labor demanded is 3 million hours.
Correct Answer:
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