Critics of Minimum Wage Laws Argue That Such Laws Will

question 171

Multiple Choice

Critics of minimum wage laws argue that such laws will end up hurting people with ________ skill levels because these laws interfere with the smooth functioning of the labor market and create ________.

• A) higher; a shortage of labor
• B) higher; unemployment
• C) lower; a shortage of labor
• D) lower; unemployment

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Definitions:

Set of Promises

A collection or aggregation of commitments or assurances made by one party to another within the context of a contract or agreement.

Legal Objective

A principle that requires contracts to have a purpose that is lawful and not against public policy in order to be enforceable.

Breach

The violation or breaking of a law, duty, or contractual obligation either by commission or omission.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an increased interconnectedness of the world's economies, cultures, and populations.