If the minimum wage law sets a wage floor below the equilibrium wage in the market for unskilled labor, then the
A) minimum wage will create a surplus of unskilled labor.
B) minimum wage will create a shortage of unskilled labor.
C) minimum wage will not impact the unskilled labor market.
D) unskilled labor market will change, but we cannot be certain how.
C
Economics
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The best example of a cyclically unemployed individual is
A) Charles who lost his job as a real estate salesperson when the housing market went soft because of a recession. B) Alice who quit her job to enter college. C) Mary who lost her job in the textile industry following a decrease in the tariff on textiles. D) Bob who has just graduated from college and is entering the labor market.
Economics
The formation of cartels in the U.S. is illegal
Indicate whether the statement is true or false
Economics