JAMB Economics 2012 Objective — Question 50

Question 50 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2012 Objective paper, with the correct answer and a full explanation.

Study the diagram above showing the wage rate. From the diagram, the minimum wage OW lead to

A. full employment of resources
B. unemploymentCorrect
C. inflation
D. full employment

Explanation

When the wage rate is higher than the equilibrium, demand for labour falls and there will be unemployment.

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