The Supply and Demand Model Predicts That Minimum Wage Laws

question 174

Multiple Choice

The supply and demand model predicts that minimum wage laws cause

• A)wages of skilled workers to fall.
• B)unemployment among low-skilled workers.
• C)a shortage in the low-skilled labor market.
• D)the status of minorities and women to improve.
• E)wages of all workers to increase with the minimum wage.

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Definitions:

Separate Workers

The process or policy of keeping workers apart from each other, possibly based on roles, tasks, or certain conditions.

Abdication

The act of formally relinquishing responsibility or authority over something.

Managerial Authority

The power vested in managers and executives to make decisions, direct teams, and oversee the operations within an organization.

Job Depth

The degree of control, creativity, and responsibility an employee has in their job.