The minimum wage is an example of a price floor.
Answer the following statement true (T) or false (F)
True
The minimum wage is the lowest wage a firm can legally pay its employees. This fits the definition of a price floor.
Economics
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The idea of a currency union was initially proposed by:
A) John Maynard Keynes. B) Paul Samuelson. C) Robert Mundell. D) Alan Greenspan
Economics
Two firms make most of the consumer alkaline batteries in the country: Duracell and Energizer. The market for batteries is most likely
A) a monopoly. B) an oligopoly. C) perfectly competitive. D) monopolistically competitive.
Economics