Economists usually favor a return to the gold standard

An increase in the minimum wage to $15 per hour would lead to

A) an increase in search activity for many workers. B) a decrease in search activity for many workers. C) a decrease in unemployment. D) no change in unemployment. E) no change in employment.

A minimum wage that is above the equilibrium wage rate

A) increases efficiency within the labor market. B) increases the quantity of labor demanded. C) creates a deadweight loss. D) has no effect on the labor market because it is set above the equilibrium wage rate. E) None of the above answers is correct.