When the minimum wage is raised, the ________ union labor ________
A) demand for; increases
B) demand for; decreases
C) supply of; increases
D) supply of; decreases
E) demand for; does not change
A
Economics
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The quantity supplied is the amount firms wish to sell
A. at a particular price (the timeframe is irrelevant). B. at all possible prices (the timeframe is irrelevant). C. at all possible prices during a specified period of time. D. at a particular price during a specified period of time.
Economics
Refer to the above figure. If the economy is currently operating at point C, then there is
A. unemployment. B. a recessionary gap. C. deflation. D. an inflationary gap.
Economics