The intention of a minimum wage is to:
A) keep the wage rate at par with the equilibrium wage.
B) keep the wage rate below the equilibrium wage.
C) raise the wage rate above the equilibrium wage.
D) keep the wage rate at par with the wage of the skilled workers.
E) make the wages of the skilled and unskilled workers equal.
Correct Answer:
Verified
Q12: The figure below shows the supply curve
Q19: The figure below shows the supply curve
Q20: As the wage rate increases,the quantity supplied
Q21: The figure given below shows the demand
Q24: Minimum wage legislation by the government would:
A)create
Q25: The figures given below show the demand
Q26: The U.S.government has time and again raised
Q27: Why has the inequality of income become
Q28: If the supply of skilled workers is
Q36: The figures given below show the demand
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