Suppose That the Minimum Wage Was Increased to $10 Per

question 41

Multiple Choice

Suppose that the minimum wage was increased to $10 per hour. Which of the following would be most likely to result from the minimum wage increase?

• A) an increase in the employment of low-skill workers previously employed at wage rates of less than $10 per hour
• B) an increase in the number of jobs providing low-skill workers with on-the-job training
• C) a reduction in the number of teenagers unemployed
• D) an increase in the demand for high-skill workers providing services that are a good substitute for those whose wages were pushed up by the higher minimum wage

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Definitions:

Spreadsheet

A digital worksheet that organizes data in rows and columns, often used for calculations, data analysis, and information storage.

Statement Of Cash Flows

A financial report that shows how changes in balance sheet accounts and income affect cash and cash equivalents, breaking the analysis down to operating, investing, and financing activities.

Investing Activities

Transactions involving the acquisition or disposal of long-term assets and investments, reflected in a company's cash flow statement.

Financing Activities

This category in cash flow statements includes transactions related to raising capital and repaying investors, such as issuing stock or paying dividends.