Economics Questions

Economics Questions Glendale Community College Econ 101 Winter 2022 Test 1 Question 1

Please refer to the graph shown above. If the government implements a price floor of $7.25 per hour, there will be a:

a.  surplus of 400 workers.

b. surplus of 300 workers.

c. shortage of 400 workers.

d. shortage of 300 workers.

Answer:  A. Surplus of 400 workers