In the labor market shown below , if the demand for labor increases so that the equilibrium wage rate goes above the minimum wage Wm, then the minimum-wage law will:
A. Cause higher unemployment
B. Cause lower unemployment
C. Labor supply to decrease
D. Become ineffective in the market
D. Become ineffective in the market
You might also like to view...
Because employer-provided health insurance was too expensive, a major employer decided to self-insure and simply pay for medical bills itself rather than a premium to an insurance company. As a result
a. they are more likely to institute a wellness program for employees b. they are less likely to institute a wellness program for employees c. they are indifferent with regards wellness programs d. they will regret this decision
The circular flow model shows the relationships between
A. government and business firms. B. government and households. C. households and business firms.