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What effect would doubling the minimum wage have on income inequality? Choose one: A. an increase...

What effect would doubling the minimum wage have on income inequality? Choose one: A. an increase in income inequality B. a decrease in income inequality C. no change in income inequality D. It depends on how the higher minimum wage affects the equilibrium in the labor market.

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Answer #1

Option D

Explanation: It will depend on how the labor market responds to the change in minimum wage.

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