-The 'Fair Results' View of Fairness Says That a Minimum

question 66

Multiple Choice

-The 'fair results' view of fairness says that a minimum wage law set above the equilibrium wage rate is unfair because the minimum wage

• A) does not apply to all workers.
• B) boosts the income of highly skilled workers.
• C) benefits nobody.
• D) benefits only those workers who are able to find and keep a job.
• E) cannot be enforced.

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Definitions:

Riskier Loans

Loans that carry a higher chance of default compared to standard loans, often resulting in higher interest rates to compensate for the increased risk.

Tax-Exempt

A status of financial or material exemption from the requirement to pay taxes granted by government authorities.

Present Value

The now-value of a later financial sum or succession of monetary flows, using a determined rate of return as the basis for calculation.

Interest Rate

This is the percentage of a sum of money charged for its use.