Minimum-wage laws (i) have little or no effect on many workers' wages.
(ii) create above-equilibrium wages for some unskilled workers.
(iii) create a shortage of unskilled labor.

Question

Minimum-wage laws (i)	have little or no effect on many workers' wages.
(ii)	create above-equilibrium wages for some unskilled workers.
(iii)	create a shortage of unskilled labor.

Quizplus · Accepted Answer

Minimum-wage laws often have little effect on workers already earning above the minimum wage but can create above-equilibrium wages for some unskilled workers, potentially leading to unemployment or a surplus of labor rather than a shortage.

Minimum-Wage Laws (I) Have Little or No Effect on Many Workers