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Exhibit 4-7 -Refer to Exhibit 4-7.How Many Fewer Persons Work in the Work

Question 48

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Exhibit 4-7 Exhibit 4-7 -Refer to Exhibit 4-7.How many fewer persons work in the unskilled labor market at the minimum wage (W<sub>M</sub>) than at the equilibrium wage (W<sub>1</sub>) ? A) (N<sub>2</sub> - N<sub>1</sub>) <sub> </sub>persons B) (N<sub>1</sub> - N<sub>3</sub>) <sub> </sub>persons C) (N<sub>2</sub> - N<sub>3</sub>) <sub> </sub>persons D) N<sub>3 </sub>persons E) none of the above
-Refer to Exhibit 4-7.How many fewer persons work in the unskilled labor market at the minimum wage (WM) than at the equilibrium wage (W1) ?


A) (N2 - N1) persons
B) (N1 - N3) persons
C) (N2 - N3) persons
D) N3 persons
E) none of the above

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