-The Above Figure Shows a Labour Market with a Minimum

question 78

Multiple Choice

-The above figure shows a labour market with a minimum wage of $8 an hour. How many people are employed when the minimum wage is in place?

• A) 40,000
• B) 80,000
• C) 60,000
• D) Fewer than 40,000
• E) More than 80,000

---

Definitions:

Direct Foreign Investment

The act of investing by companies or individuals from one country into business operations or assets within a different country, encompassing the establishment of business ventures or the acquisition of assets.

Tariffs

Taxes imposed on imported or, less commonly, exported goods with the purpose of influencing trade flows, raising government revenue, or protecting domestic industries.

Direct Foreign Investment

Direct Foreign Investment involves an individual or company in one country investing in business interests in another country, typically involving ownership of facilities, properties, or assets.

Chemical Plant

An industrial facility specialized in processing chemicals or chemical compounds to produce a variety of products or raw materials.