If the market wage for fast-food restaurants is $11 and the government enforces a minimum wage of $7,the unemployment rate will
A) Increase as quantity of labor supply increases and quantity of labor demand decreases.
B) Increase as quantity of labor supply decreases and quantity of labor demand increases.
C) Increase as quantity of labor supply increases and quantity of labor demand increases.
D) Not be affected by the minimum wage.
Correct Answer:
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