Which of the Following Is the Most Likely Result of an Increase

question 39

Multiple Choice

Which of the following is the most likely result of an increase in the minimum wage?

• A) An increase in the employment of unskilled workers.
• B) A decrease in the number of workers seeking minimum wage jobs.
• C) An increase in the demand for unskilled workers.
• D) A decrease in the employment of unskilled workers.

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Definitions:

Credit Terms

Conditions under which credit is extended by a seller to a buyer, detailing the repayment period, interest rate, and penalties for late payment.

Discount

A reduction in the price of goods or services, usually offered to encourage purchase or provided for early payment.

Sales Tax

A tax imposed by a government on the sale of goods and services.

Credit Period

Length of time allowed for payment of goods sold on account.