Suppose a senator considers introducing a bill to legislate a minimum hourly wage of $9.00. which of the following statements are true? check all that apply. in this labor market, a minimum wage of $9.00 is binding. binding minimum wages cause frictional unemployment. in the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium. if the minimum wage is set at $12.50, the market will not reach equilibrium.