Suppose a senator considers introducing a bill to legislate a minimum hourly wage of $9.00. Which of the following statements are true? Check all that apply. In this labor market, a minimum wage of $9.00 is binding. Binding minimum wages cause frictional unemployment. In the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium. If the minimum wage is set at $12.50, the market will not reach equilibrium.