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 surplus of jobs c. a surplus of labor and a shortage of jobs d, both surplus of labor and a surplus of jobs
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 surplus of jobs c. a surplus of labor and a shortage of jobs d, both surplus of labor and a surplus of jobs
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter4: Labor And Financial Markets
Section: Chapter Questions
Problem 20RQ: Whether the product market or the labor market, what happens to line equilibrium price and quantity...
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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 surplus of jobs
c. a surplus of labor and a shortage of jobs
d, both surplus of labor and a surplus of jobs
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