When a minimum wage is set above the equilibrium wage rate, ________
A) the supply of low-skilled workers decreases and the supply curve shifts rightward
B) unemployment increases
C) search activity decreases
D) the supply of low-skilled workers increases and the supply curve shifts leftward
B
You might also like to view...
Which of the following is not a consequence of minimum wage laws?
A) Employers will be reluctant to offer low-skilled workers jobs with training. B) Some workers benefit when the minimum wage is increased. C) Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage. D) Low-skilled workers are hurt because minimum wage reduces the number of jobs providing low-skilled workers with training.
An "equal opportunity" admissions process to college would widen educational disparities between whites and blacks
Indicate whether the statement is true or false
For most goods in an economy, the primary signal that guides the decisions of buyers and sellers is
a. advertising. b. quality. c. reputation. d. price.
Why is it difficult to get a cab on a rainy day?
A. The demand for cabs shifts left and the quantity of cabs supplied falls B. Cab drivers must drive much slower when it rains C. Cab drivers have backward bending daily supply curve D. Cabs don't like to work on rainy day