Minimum-Wage Laws Are Least Likely to Affect the Wages Paid

question 339

Multiple Choice

Minimum-wage laws are least likely to affect the wages paid to

• A)highly-educated workers.
• B)teenagers.
• C)low-skilled workers.
• D)inexperienced workers.

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Definitions:

Prepayment

The act of repaying a loan or part of a loan before its due date, which can sometimes lead to penalties or the waiving of future interest.

Collateral

refers to assets that are pledged as security for the repayment of a loan, ensuring the lender can seize the assets if the loan is not repaid.

Reimbursement

The process of compensating someone for an expense they have incurred.

Surety

A person or entity that takes responsibility for another's performance of an undertaking, such as fulfilling the terms of a contract.