In 1997 and 1998, the economy expanded, increasing the demand for labor and pushing up wages. Change in Demand Increase Decrease Did not Change Indeterminate Change in Supply Increase Decrease Did not Change Indeterminate

In 1997 and 1998, the economy expanded, increasing the demand for labor and pushing up wages. Change in Demand Increase Decrease Did not Change Indeterminate Change in Supply Increase Decrease Did not Change Indeterminate

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Unemployment

Section20.3: Minimum-wage Laws

Problem 3QQ

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In 1997 and 1998, the economy expanded, increasing the demand for labor and pushing up wages.

Change in Demand

Increase

Decrease

Did not Change

Indeterminate

Change in Supply

Increase

Decrease

Did not Change

Indeterminate

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