Multiple Choice
When the minimum wage is established above the equilibrium wage,then:
A) Shortages of jobs result,since sellers move down the labor-supply curve.
B) Surpluses of jobs result,since sellers move up the labor-supply curve.
C) Shortages of labor result,since buyers move down the labor-demand curve.
D) Surpluses of labor result,since buyers move up the labor-demand curve.
Correct Answer:
Verified
Correct Answer:
Verified
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