Which of the following statements is true?
a. Minimum wage creates a labor deficit in a market
b. Minimum wage intends to increase the consumer surplus.
c. Minimum wage is a wage set below the equilibrium wage in order to create more job opportunities.
d. Minimum wage harms the unskilled workers between the age group 40 and 50.
e. Minimum wage harms the unskilled workers between the age group 16 and 19.
e
Economics
You might also like to view...
When the price of going to a movie rises 5 percent, the quantity of DVDs demanded increases 10 percent. The cross elasticity of demand equals
A) 10.0. B) 0.50. C) -0.50. D) -2.0. E) 2.0.
Economics
Without any regulation, the natural monopolist will
A) not produce any output. B) produce to the point at which P = ATC. C) produce less output than it would if the industry was purely competitive. D) have an upward-shifting average cost curve.
Economics