Which of the following statements are true? check all that apply.
__ in this labor market, a minimum wage of $7.50 is binding.
__ if the minimum wage is set at $10.50, the market will not reach equilibrium.
__ in the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium.
__ binding minimum wages cause frictional unemployment.

Suppose a bill is passed to make minimum hourly wage as $7.50, the implications would be that:

-If the minimum wage is set at $10.50, the market will not reach equilibrium.

-In the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium.

Therefore only the two above listed statements would be TRUE.

the united states has a federal government. the president is the head of the federal government of the united states. however, each state forms its government for administration purposes. the powers of the state governments are exercised within restricted state boundaries. and citizens participate in this government by voting.

answer; i believe the correct answer is (general);