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Whether the minimum wage is a binding price floor always depends upon whether the economy is in a recession. a. True b. False
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Whether the minimum wage is a binding price floor always depends upon whether the economy is in a recession. a. True b. False

User ZeroNine
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Answer:

false

Step-by-step explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price

A country is in a recession when the GDP for 2 consecutive quarters is negative.

A binding price floor depends if it is above or below equilibrium

User Multigoodverse
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