In a competitive labor market, when the governmentincreases the minimum wage, the resul t is a(n)____ in t he quantity of labor suppl ied and a(n)____ in t he qua ntity of labor demanded.a. increase, increaseb. increase, decreasec. decrease, increased. decrease, decrease
In a competitive labor market, when the governmentincreases the minimum wage, the resul t is a(n)____ in t he quantity of labor suppl ied and a(n)____ in t he qua ntity of labor demanded.a. increase, increaseb. increase, decreasec. decrease, increased. decrease, decrease
Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Unemployment
Section: Chapter Questions
Problem 4CQQ
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Question
In a competitive labor market, when the government
increases the minimum wage, the resul t is a(n)
____ in t he quantity of labor suppl ied and a(n)
____ in t he qua ntity of labor demanded.
a. increase, increase
b. increase, decrease
c. decrease, increase
d. decrease, decrease
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