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Exhibit 16-1 Several Congressmen and Senators Have Been Greatly Concerned

Question 61

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Exhibit 16-1 Several congressmen and senators have been greatly concerned about the fairness of salaries in the marketplace.They are contemplating enacting a law that would fix the wage rate at WA.Their aides,who were all excellent economics students,have returned with the results of an investigation into the matter,as portrayed below. Exhibit 16-1 Several congressmen and senators have been greatly concerned about the fairness of salaries in the marketplace.They are contemplating enacting a law that would fix the wage rate at W<sub>A</sub>.Their aides,who were all excellent economics students,have returned with the results of an investigation into the matter,as portrayed below.   Refer to Exhibit 16-1.If the government was to impose a wage rate of W<sub>A</sub> on the computer software programming industry: A)  the imposed wage would have no effect on the market for computer programmers. B)  a shortage of software programmers would result. C)  a quantity of Q<sub>4</sub> software programmers would be demanded in the marketplace. D)  there would be pressure from market forces for the wage to fall. Refer to Exhibit 16-1.If the government was to impose a wage rate of WA on the computer software programming industry:


A) the imposed wage would have no effect on the market for computer programmers.
B) a shortage of software programmers would result.
C) a quantity of Q4 software programmers would be demanded in the marketplace.
D) there would be pressure from market forces for the wage to fall.

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