Most workers in the economy earn a wage that is:

Question

Quizplus · Accepted Answer

The legal minimum wage is the lowest amount an employer can legally pay their employees, so it is unlikely that most workers would earn less than this. Additionally, because there are competitive forces at play in the labor market, wages tend to be driven towards the equilibrium wage, where the supply of labor (workers) equals the demand for labor (employers). Therefore, it is unlikely that most workers would earn above the equilibrium wage (Choice A) or equal to the minimum wage (Choice B).

Most Workers in the Economy Earn a Wage That Is