2 years ago

Which of the following statements are true? Check all that apply.

Social Studies

1 answer:

HACTEHA [7]2 years ago

8 0

Answer:

Suppose a bill is passed to make minimum hourly wage as $7.50, the implications would be that:

-If the minimum wage is set at $10.50, the market will not reach equilibrium.

-In the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium.

Therefore only the two above listed statements would be TRUE.

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