Critics of the Minimum Wage Argue That

question 185

Multiple Choice

Critics of the minimum wage argue that

• A)labor demand is inelastic so firms can adjust production.
• B)too many older employees benefit at the expense of teenage workers.
• C)many minimum-wage earners are teenagers from middle-class families.
• D)All of the above are correct.

---

Definitions:

CCA Class

Capital Cost Allowance (CCA) Class refers to categories used in taxation to determine the depreciation rate that can be claimed for tax purposes on assets, depending on their nature and use in a business.

Break-Even Lease Payment

The payment amount at which the lessee neither profits nor loses money over the term of the lease.

Corporate Tax Rate

The percentage of a corporation's profits that is paid to the government as tax.

CCA Class

In Canadian taxation, a way to categorize depreciable properties for the purpose of Capital Cost Allowance calculations.