If the minimum wage is set above the equilibrium wag... - Solved MCQs & Answer

2477EconomicsMedium

If the minimum wage is set above the equilibrium wage rate, then another thing unchanged?

AThere will excess demand in the labour market

BMore people will be employed

CThere will be excess supply in the labour market

DThere will be equilibrium in the labour market

Correct answer

D. There will be equilibrium in the labour market

Explanation

The correct answer is There will be equilibrium in the labour market.

A detailed investigation of a single social unit in order to study it in depth is________?

The largest producer of diamond in the world is?

With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD?

Which of the following is not an argument put forth by economists in support of the use of advertising?

Common market is an agreement between two or more countries. What this agreement permits?

The least common type of transaction in the foreign exchange is a?