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If the minimum wage law sets a price floor above the equilibrium wage in the market for unskilled ...

teranine

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If the minimum wage law sets a price floor above the equilibrium wage in the market for unskilled ...

If the minimum wage law sets a price floor above the equilibrium wage in the market for unskilled labor, then the

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minimum wage will create a surplus of unskilled labor.

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minimum wage will create a shortage of unskilled labor.

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minimum wage will not impact the unskilled labor market.

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unskilled labor market will change, but we cannot be certain how.

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Economics

Edition: 12^th

Author: Arnold

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More solutions for this book are available here

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You make an excellent tutor!

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