If the minimum wage is set above the market wage
A) unemployment will rise.
B) the quantity of labor supplied will be below the quantity of labor demanded.
C) highly-skilled workers will have a harder time finding jobs.
D) All of the above are correct.
A
Economics
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If the consumption of a good or service by one person does not decrease the quantity available for another person, the good or service is
A) nonrival. B) nonexcludable. C) pure. D) free.
Economics
Which of the following will shift the consumption function upward?
a. An increase in consumer wealth. b. An increase in the interest rate. c. An increase in personal income taxes. d. A decrease in the MPC. e. An increase in disposable income.
Economics