Refer to Table 4-4. If a minimum wage of 9.50 is mandated there will be a
A) shortage of 20,000 units of labor. B) surplus of 10,000 units of labor.
C) shortage of 10,000 units of labor. D) surplus of 20,000 units of labor.
Question 2
As job opportunities for women and the wages those jobs pay have increased, the opportunity cost of doing housework has ________, so many families have chosen to hire specialists in households chores, such as cleaning services and lawn care services
, because the cost of these specialists is ________ than the cost of the wife (or husband) performing those chores.
A) decreased; lower B) increased; higher C) decreased; higher D) increased; lower
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