An Increase in the Minimum Wage Will Cause a Relatively

question 44

Multiple Choice

An increase in the minimum wage will cause a relatively large increase in unemployment among

• A) unskilled workers if the demand for labour is relatively inelastic.
• B) unskilled workers if the demand for labour is relatively elastic.
• C) skilled workers if the demand for labour is relatively elastic.
• D) skilled workers if the demand for labour is relatively inelastic.

---

Definitions:

Environmental Regulations

The laws designed to protect the natural environment against undue harm by individuals and organizations.

Lose Revenue

The process where a business experiences a decrease in income, typically due to lower sales or services rendered.

Stakeholder Responsibility

The obligations an organization has to its stakeholders, those who can affect or are affected by a firm’s actions.

Social Marketing

The application of marketing principles to influence behaviors that benefit individuals and communities for greater social good.