If a minimum wage law is passed imposing a price floor above the equilibrium price of unskilled labor:
A) the quantity of unskilled labor demanded will exceed the quantity of unskilled labor supplied.
B) the quantity of unskilled labor supplied will equal the quantity of unskilled labor demanded.
C) the quantity of unskilled labor supplied will exceed the quantity of unskilled labor demanded.
D) the demand for unskilled labor will decrease.
Correct Answer:
Verified
Q118: Which of the following people is most
Q119: Unemployment caused by a contraction in the
Q120: The development of a nationwide computerized job
Q121: Which of the following statements is correct?
A)Technological
Q122: Offering employees an efficiency wage may:
A)reduce turnover.
B)attract
Q124: During an inflationary period, those most likely
Q125: The natural rate of unemployment:
A)is the sum
Q126: Which of the following statements is incorrect?
A)Demand
Q127: The term full employment implies an unemployment
Q128: If firms pay employees an efficiency wage:
A)absenteeism
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents