Which of the following is a possible outcome of a minimum wage imposed by a government?
a. It leads to an increase in consumer surplus
b. It favors women and children and helps improve their standard of living.
c. It eradicates the problem of unemployment from the market.
d. It creates a labor surplus or unemployment.
e. It creates a labor deficit.
d
Economics
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The intermediate zone in the middle of the short-run aggregate supply curve is upward sloping, so a rise in aggregate demand will cause higher output and price level, while a fall in aggregate demand will lead to ______ output and price level.
a. higher b. lower c. no change in d. surpluses in
Economics
As price rises, quantity demanded
A. rises. B. falls. C. remains the same.
Economics