Which of the Following Is a Consequence of Minimum Wage

question 108

Multiple Choice

Which of the following is a consequence of minimum wage laws?

• A)Low-skilled workers benefit because minimum wage increases the number of jobs providing low-skilled workers with training.
• B)Some employers will be reluctant to hire as many workers as they would without a minimum wage.
• C)Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage.
• D)All workers benefit when the minimum wage is increased.

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Definitions:

Budgeting

The process of creating a plan to spend your money, allocating estimated revenues towards expenses, savings, and debt repayment.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost assigned to production, measured per unit.

Planning Budget

A forecast of revenue, expenses, and profit for a specific period of time, often used as a financial roadmap.

Customers Served

The number of clients or customers that a company has provided services or goods to within a specific period.