An Increase in the Minimum Wage Will Tend to Cause

question 15

Multiple Choice

An increase in the minimum wage will tend to cause which of the following?

• A) A downward shift in the PS curve.
• B) A downward shift in the WS curve.
• C) An upward shift in the PS curve.
• D) An upward shift in the WS curve.
• E) Both WA and PS curves shift up.

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Definitions:

Sufficient Outside Customers

A requirement for some accounting methods where a service department or segment of a business must have enough sales to external customers to justify its existence or pricing strategy.

Container Product

A product designed to hold or contain other products, goods, or materials.

Bulk Packaging

The practice of packaging products in large containers or quantities for efficient transport and storage, typically used for wholesale.

Capacity

Maximum output of the operation of an organization.