CIMA BA1 Question Answer
Setting a minimum wage above the equilibrium wage
has no effect on unemployment, and setting a minimum wage below the equilibrium wage results in increased unemployment
results in increased unemployment, and setting a minimum wage below the equilibrium wage has no effect on unemployment.
results in decreased unemployment, and setting a minimum wage below the equilibrium wage results in increased unemployment.
results in increased unemployment, and setting a minimum wage below the equilibrium wage results in decreased unemployment
TESTED 22 Feb 2026
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