
The correct option for an effective minimum wage law.

Explanation of Solution
An effective minimum wage law is an example of a
So, the number of workers supplied exceeds the number of workers demanded in the labor market, indicating a surplus of workers. The size of the surplus of workers reflects the number of unemployed workers. Thus, an effective minimum wage doesn’t benefit all workers.
Therefore, an effective minimum wage law lowers the quantity of labor demanded in the labor market.
Option “d” is correct.
The minimum wage is a
Chapter 8 Solutions
Krugman's Economics For The Ap® Course
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