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NEW QUESTION: 1
Suppose the equilibrium wage for low skilled workers in California is $6.00 an hour. If the government
increases the minimum wage to $7.00 an hour, what would be the effect on the market for low skilled
labor?
A. The demand for labor would decrease.
B. An excess demand for labor would result.
C. An excess supply of labor would result.
D. The supply of labor would increase.
Answer: C
Explanation:
Choice "b" is correct. A minimum wage that is set above the equilibrium wage will result in an excess
supply (or surplus) of labor.

Choice "a" is incorrect, since the quantity demanded of labor at $7 is less than the quantity supplied,
implying an excess supply not an excess demand.
Choice "c" is incorrect. An increase in the minimum wage causes a decrease in quantity demanded of
labor, not a decrease in the demand (shift in demand) for labor.
Choice "d" is incorrect, per the above Explanation: .

NEW QUESTION: 2

A. SELECT COUNT(*) FROM SalesOrders WHERE OrderTime = GETDATE()
B. SELECT COUNT(*) FROM SalesOrders WHERE CONVERT(VARCHAR, OrderTime, 112) = CONVERT(VARCHAR, GETDATE(), 112))
C. SELECT COUNT(*) FROM SalesOrders WHERE OrderTime = CONVERT(DATE, GETDATE())
D. SELECT COUNT(*) FROM SalesOrders WHERE OrderTime >= CONVERT(DATE, GETDATE()) AND OrderTime < DATEADD(DAY, 1, CONVERT(DATE, GETDATE()))
Answer: D