Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.

Name: Minimum wage laws help explain the natural rate of unemployment if they create a surplus in any labor market.
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Minimum wage laws can lead to a surplus of labor (unemployment) if the minimum wage is set above the equilibrium wage, as employers will demand less labor than workers are willing to supply at that wage, contributing to the natural rate of unemployment.

Minimum Wage Laws Help Explain the Natural Rate of Unemployment