A Minimum Wage Set Above the Equilibrium Wage Rate for Low-Skilled

question 332

Multiple Choice

A minimum wage set above the equilibrium wage rate for low-skilled workers

• A) creates more employment opportunities for low-skilled workers.
• B) creates more prosperity among younger people.
• C) creates unemployment among low-skilled workers.
• D) increases the number of good paying jobs available to young people.

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Definitions:

Financial Ratios

Financial Ratios are quantitative measures used to evaluate a company's financial performance by comparing two or more line items from financial statements.

Undue Stress

Excessive pressure or tension that can potentially lead to negative health or psychological effects.

Days' Sales

A financial ratio that indicates the average time in days that a company takes to turn its inventory into sales.

Inventory

The raw materials, work-in-progress goods, and completely finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.