Solved

Instructions: Read the Paragraph Below and Answer the Question(s) That

question 1022

Multiple Choice

Instructions: Read the paragraph below and answer the question(s) that follow. (1) The federal minimum wage should be increased to at least $10.00 per hour. (2) First of all, this increase will help families who are living in poverty. (3) Not only will it provide these people with a fairer and more decent rate of pay for their labor, but it will also decrease their need for welfare, food stamps, and other forms of government support. (4) Increasing the minimum wage may also stimulate job growth. (5) According to one 2006 study published by the Fiscal Policy Institute, employment in small businesses grew faster in states that boosted their minimum wage above the federal minimum than in states requiring only the federal minimum. (6) This report also found that total job growth was faster in the states with higher minimum wages. (7) That may be because workers who earn more can spend more, which stimulates the economy. Select the number of the topic sentence in the paragraph above.

Definitions:

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income or loss.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue, indicative of the company's profitability.

Net Profit

The amount of money that remains from revenues after all operating expenses, taxes, and costs have been subtracted.

Profit Difference

The financial disparity that occurs when the revenues earned by a business exceed or fall short of its expenses.