In a competitive labor market, a minimum wage law set above the equilibrium wage rate

A) creates a shortage of labor.
B) causes equality between the quantity of labor supplied and the quantity demanded.
C) creates a surplus of labor.
D) lowers the wage rate paid to workers.
E) has no impact.


C

Economics

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What will be an ideal response?

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Answer the following questions true (T) or false (F)

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The Heckscher-Ohlin model is an alternative to the classical theory of international trade that focuses on the factors of production that countries possess

Indicate whether the statement is true or false

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