As Reported in the Case in Point on the Monopsony-Minimum

question 60

Multiple Choice

As reported in the Case in Point on The Monopsony-Minimum Wage Controversy, Dwight Lee, an economist at the University of Georgia, suggested that an increase in the minimum wage might not improve worker well-being because itmay:

• A) reduce employment because of a decrease in the quantity of labor demanded.
• B) increase unemployment for positions that require skilled labor.
• C) lead to higher payroll taxes and a decrease in retirement benefits.
• D) reduce other fringe benefits that workers value more highly than wages themselves.

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Definitions:

Self-esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states, such as triumph, despair, pride, and shame.

Untruthful

Describes a statement, claim, or representation that is false, inaccurate, or deceptive.

Dishonest

Dishonesty entails the act of being untruthful or deceptive in intentions or actions.

Race-car Driver

A professional athlete who competes in motorsport racing, driving high-speed vehicles in competitions.