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Question 61

Multiple Choice

  -Refer to the graph above to answer this question.What is the result if the government establishes minimum wage of $7 in this market? A) Firms would employ 22,000 workers. B) There would be a shortage of 3,000 workers. C) 1,000 of the employed workers would be prepared to work for $1 an hour less. D) There would be 3,000 unemployed workers. E) 19,000 workers would be willing and able to work.
-Refer to the graph above to answer this question.What is the result if the government establishes minimum wage of $7 in this market?


A) Firms would employ 22,000 workers.
B) There would be a shortage of 3,000 workers.
C) 1,000 of the employed workers would be prepared to work for $1 an hour less.
D) There would be 3,000 unemployed workers.
E) 19,000 workers would be willing and able to work.

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