Suppose That Congress Increased the Minimum Wage to $12

question 28

Multiple Choice

Suppose that Congress increased the minimum wage to $12.50/hour, ceteris paribus. This will:

• A) increase the number of fast food workers
• B) decrease the number of fast food workers
• C) result in no change in the number of fast food workers
• D) not enough information to answer

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Definitions:

Values

Fundamental beliefs that guide behaviors and decision-making processes.

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business or organization.

Dominant Values

The most powerful or influential values held by a society, organization, or group, shaping behaviors and norms.

National Culture

The set of shared values, traditions, beliefs, laws, and practices that characterizes a country or nation.