Those who oppose minimum wage legislation argue that:
A. workers deserve a basic standard of living.
B. setting a wage above the market-clearing equilibrium creates unemployment.
C. the way to get an efficient labor market is for government intervention.
D. it should be set below the market-clearing equilibrium.
Answer: B
Economics
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An international comparison of eight major industrialized countries reveals the following about the components of GDP: ________
A) the U.S. has one of the largest shares of GDP going to investment B) the U.S. has one of the smallest government share of GDP C) the U.S. runs one of the largest trade deficits D) all of the above E) none of the above
Economics
The optimal patent length is equal to 20 years
Indicate whether the statement is true or false
Economics