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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What might be one effect of government legislating wage rates?

To determine

Effect of government legislating wage rate.

Explanation

The wage rate is determined by the market forces of demand and supply of labor. Fluctuations in these forces create excess or shortage of labors. Then government interferes by introducing proper legislative policy...

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