When a minimum-wage law forces the wage to remain above the equilibrium level, the result is
A) both a shortage of labor and a shortage of jobs.
B) a shortage of labor and a surplus of jobs.
C) a surplus of labor and a shortage of jobs.
D) both surplus of labor and a surplus of jobs.
Correct Answer:
Verified
Q342: Labor unions
A)are similar to cartels.
B)create labor shortages
Q343: An increase in the minimum wage above
Q344: Which of the following is correct?
A)Union membership
Q345: Table 28-4
The following data is about
Q346: Minimum wages create unemployment in markets where
Q348: Which of the following is an example
Q349: Table 28-4
The following data is about
Q350: Which of the following is an example
Q351: Efficiency wages
A)increase productivity and reduce unemployment.
B)increase productivity
Q352: Unions contribute to
A)frictional unemployment but not the
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