When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it
a. reduces the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
b. raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level.
c. raises the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level.
d. reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it a. reduces the quantity of labor ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Accountants shoulder major responsibilities in our society. Our decisions that we make are based on information, and we must trust those that recognize, measure, record, and report business transactions.
Answers (1)
Which of the following is not a motivation for using electronic data interchange (EDI) ? Reduction of paper work Less frequent deliveries of smaller shipments Reduction in clerical labor Increased accuracy Increased speed in processing transactions
Answers (1)
When qe2 and operation twist were implemented, the fed suspended its policy of forward commitment. a. True b. False?
Answers (1)
On January 6, 2017, Michael Company acquired 4,000 shares (or 10%) of George Corporation's common stock at $25 per share. The securities are classified as trading securities.
Answers (1)
Productivity can be improved by: A. decreasing outputs while holding inputs steady. B. increasing inputs while holding outputs steady. C. decreasing inputs while holding outputs steady. D. increasing inputs and outputs in the same proportion. E.
Answers (1)
New Questions in Business
Your cellular phone contract is due for renewal and the company offers you a new free phone. Since you want to use your new phone, you decide to recycle your old phone. Your action a.
Answers (1)
Donna independently owns and operates Punkin's Pies, a small business with about 30 employees. She is happy with the size of her business and the average profits it generates.
Answers (1)
What is something economists need to know the least in order to effectively fine tune the economy? a. potential income/output. b. the cpi. c. the multiplier. d. aggregate equilibrium income/output five years ago?
Answers (1)
In tjis app Can you follow people?
Answers (1)
Brooks Company expects to sell 8 comma 500 units for $ 175 each for a total of $ 1 comma 487 comma 500 in January and 2 comma 500 units for $ 200 each for a total of $ 500 comma 000 in February.
Answers (1)