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Suppose that the equilibrium wage in the low-skilled labor market is $9.25. Furt

Lauren1

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Suppose that the equilibrium wage in the low-skilled labor market is $9.25. Furt

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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Lauren1 Author

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9 years ago

Thank you, this really, really helps Heavy Heart

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MrDereche

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9 years ago

You're welcome!

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