Which of the following is the most likely outcome of minimum wage laws?

a. an increase in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
b. an increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms
c. a decrease in the quantity of labor supplied by workers and an increase in the quantity of labor demanded by firms
d. a decrease in both the quantity of labor supplied by workers and the quantity of labor demanded by firms


B

Economics

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a. True b. False Indicate whether the statement is true or false

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As a result of technology spillovers: Taxes may move us closer to the efficient output level in such industries. a. Other members of society bear external costs

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Economics

The more inelastic the demand for a product, the more the actual burden of a tax on the product will:

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Economics