Effective minimum-wage laws will most likely result in (i) an increased demand for labor.
(ii) a surplus of labor.
(iii) higher incomes for all unskilled workers.

Question

Effective minimum-wage laws will most likely result in (i)	an increased demand for labor.
(ii)	a surplus of labor.
(iii)	higher incomes for all unskilled workers.

Quizplus · Accepted Answer

Minimum-wage laws set a floor on wages, which can lead to a surplus of labor (unemployment) if the wage is above the equilibrium level, as employers demand less labor at the higher wage.

Effective Minimum-Wage Laws Will Most Likely Result in (I) an Increased