A minimum wage law creates a price (or wage) _____ and a labor _____.
A) floor,shortage
B) floor,surplus
C) ceiling,shortage
D) ceiling,surplus
Correct Answer:
Verified
Q12: In 1991,the base year,you were earning $350/week.Your
Q13: In order for real wages to grow
A)productivity
Q14: Who made this statement? "The really exhausting
Q15: Statement I: To move from the secondary
Q16: Which statement is false?
A)The primary labor market
Q18: Which statement is false?
A)The substitution effect means
Q19: Which statement is true?
A)American manufacturing wages are
Q20: A firm's demand for labor is
A)its MRP
Q21: In general output per hour rises at
Q22: If the legal minimum wage is set
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