Question
A minimum wage is set by the government. This regulation represents a price _____________. In order to be effective the new wage will have to
A minimum wage is set by the government. This regulation represents a price _____________. In order to be effective the new wage will have to be set ______________ the equilibrium price, and it will cause ________________________
floor; above; a shortage.
floor; above; a surplus.
ceiling; below, a surplus.
ceiling; below, a shortage.
floor; at the market equilibrium, no change.
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American Political Economy In Global Perspective
Authors: Harold L Wilensky
1st Edition
1139227920, 9781139227926
