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James Paul James Paul
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A year ago
The following figure shows wage versus labor supply.




Refer to the figure above. Which of the statements below is NOT true if the supply of labor is equal to S1 and the demand of labor is equal to D2?

▸ If the minimum wage is set at w1 the labor market will clear at point E.

▸ If the minimum wage is set at w1 the labor market will not clear.

▸ If the minimum wage is set at w2 the labor market will clear at point C.

▸ If the minimum wage is set at w3 the labor market will clear at point C.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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jewelzzPjewelzzP
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