Imposing a minimum wage that is above the equilibrium wage rate results in
A) higher job search costs.
B) lower unemployment.
C) the labor market becoming more efficient.
D) equilibrium in the labor market.
A
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Which of the following is not a probable consequence of food aid to developing countries?
a. Increased domestic food prices b. Declining domestic output c. Misallocation of food supplies d. Increased dependency on foreign food supplies e. Increased starvation of the needy
A cartel is
a. a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves. b. a government-approved organization for the exchange of technical information among firms. c. a form of competition among oligopolists. d. a regulated industry that is officially permitted to set the price of its product above long-run average total cost.