Business, 26.06.2020 20:01 walkereddie580

Suppose a senator considers introducing a bill to legislate a minimum hourly wage of $12.50. Which of the following statements are true? Check all that apply. Binding minimum wages increase the natural rate of unemployment. In the absence of price controls, a surplus puts upward pressure on wages until they rise to the equilibrium. If the minimum wage were set at $9.50, the market would still be able to reach equilibrium. In this labor market, a minimum wage of $12.50 would be binding.

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Suppose a senator considers introducing a bill to legislate a minimum hourly wage of $12.50. Which o...

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