-Who Loses and Who Gains from the Minimum Wage

question 84

Multiple Choice

-Who loses and who gains from the minimum wage?

• A) Losers are all workers and gainers are all firms.
• B) Losers are all firms and gainers are all workers.
• C) Gainers are some firms and all workers, while losers are some firms.
• D) Gainers are some firms and some workers, while losers are other firms and other workers.
• E) Losers are all firms and some workers, while gainers are other workers.

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Definitions:

Guarantees

Promises or assurances, usually in writing, that certain conditions will be fulfilled, often relating to the quality or durability of a product or service.

Parental Responsibility

The legal term for the duties, powers, responsibilities, and authority that most parents have in relation to their children, covering their care, property, and education.

Negligent

An individual or entity's failure to take reasonable care, resulting in harm or damage to others.

Mortgage Agreement

is a legal contract between a borrower and lender that outlines the terms and conditions of a loan used to purchase property, with the property acting as security for the loan.