Effects of Imposing a Minimum Wage
Which of the following is true when the minimum wage is imposed?
A
The supply of labor will increase by 2,000 from the equilibrium point.
B
The wage rate will decrease.
C
There will be 2,000 more available jobs than the available workers.
D
The demand for labor will decrease by 2,000 from the equilibrium point.
E
There will be 2,000 more available workers than the available jobs.