(Figure: Wage Subsidy) Consider the Use of Wage Subsidiesversus the Minimum

question 59

Multiple Choice

(Figure: Wage Subsidy) Consider the use of wage subsidiesversus the minimum wage. Employment with a wage subsidy is:________, versus employment with an $8 minimum wage is:________.

• A)180; 120
• B)120; 180
• C)150; 150
• D)180; 180

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Definitions:

Socialist Economy

An economic system where the means of production are owned and managed collectively or by the state, aiming for equal wealth distribution and reducing social class differences.

Capitalist Economy

An economic system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit.

Welfare State

A governmental system that provides social and economic support to its citizens, including healthcare, education, and financial aid.

Telecommuting

Working from home while staying connected to the office through communications technology.