The imposition of an effective minimum wage in a non-competitive industry might result in
A. more workers being hired.
B. workers earning a lower wage.
C. an increase in labor demand.
D. a decrease in labor supply.
E. higher firm profits.
Answer: A
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Indicate whether the statement is true or false
Because workers in the U.S. economy receive most of the total income earned, which of the following factors of production is considered to be the most important?
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