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Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509
BuyFind

Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509

Solutions

Chapter
Section
Chapter 15, Problem 4CQQ
Textbook Problem

In a competitive labor market, when the government increases the minimum wage, the result is a(n) _____ in the quantity of labor supplied and a(n) _____ in the quantity of labor demanded.

a. increase, increase

b. increase, decrease

c. decrease, increase

d. decrease, decrease

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