Which of the Following Statements About Minimum Wage Is the LEAST

question 7

Multiple Choice

Which of the following statements about minimum wage is the LEAST accurate?

• A) Research has conclusively shown that raising the minimum wage will lead to layoffs.
• B) The federal minimum wage hasn't been raised since 2009.
• C) The majority of minimum wage workers are women.
• D) A minimum wage increase is likely to increase both productivity and income for low wage workers.

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Definitions:

Net Realizable Value

The estimated selling price of goods minus the cost of their sale or disposal, used in evaluating inventory value.

Inventory

The total amount of goods and materials a company holds for the purpose of resale or production.

Cost to Sell

The total expenses involved in selling a product or service, including marketing, labor, and other sales-related costs.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, a key component in calculating cost of goods sold.