Because minimum wage is a price floor
A) it will be set below the market equilibrium price.
B) it will create a deadweight loss.
C) it will increase the number of jobs available in the labor market.
D) it will maximize consumer surplus.
Correct Answer:
Verified
Q153: Economists _ that price controls are desirable.
A)are
Q154: Rent control is an example of a
Q155: If the government implements a binding price
Q156: Which of the following is a result
Q157: Figure 4-6 Q159: Price ceilings result in shortages. Q160: In cities with rent controls,the actual rents Q161: Buyers will bear the entire burden of Q162: Figure 4-9 Q163: A tax is imposed on employers and
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