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Lauren1 Lauren1
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Posts: 4120
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9 years ago
Suppose that the equilibrium wage in the low-skilled labor market is $9.25. Further, suppose the federal government raises the minimum wage to $9.00 an hour from its present level of $8.15. The government's action of increasing the minimum wage will result in
A) a decrease in unemployment.
B) an increase in unemployment.
C) a shortage of low-skilled labor.
D) neither a shortage nor a surplus of labor in the low-skilled labor market.
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MrDerecheMrDereche
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#1
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Rep: 304 0
9 years ago
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Lauren1 Author
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#2
9 years ago
Thank you, this really, really helps Heavy Heart
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#3
9 years ago
You're welcome!
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