The long-run effect of laws that raise the minimum wage is that
A) any short-run effect disappears and there is no long-run impact.
B) the demand for minimum wage workers rises and more minimum wage workers are hired.
C) labor-saving devices and management practices are slowly adopted.
D) labor-saving devices are quickly adopted to replace labor.
Correct Answer:
Verified
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A)makes cyclical changes in
B)stabilizes
C)diminishes
D)boosts
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