Figure 9-2 -Refer to the Figure 9-2.If the Minimum Wage Rose from Wage

question 97

Multiple Choice

Figure 9-2
-Refer to the Figure 9-2.If the minimum wage rose from $6 to $7,what would happen to unemployment?

• A) It would rise by 40.
• B) It would rise by 20.
• C) It would fall by 20.
• D) It would fall by 40.

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Definitions:

Rise of Capitalism

The historical development and expansion of capitalism as an economic system characterized by private ownership of the means of production and the creation of goods and services for profit.

Production Technology

The methods, equipment, and techniques used in the manufacturing process to produce goods and services.

Sociological Theory

is a set of ideas that provides an explanation for human society, guiding research and thinking in sociology and other social sciences.

George Ritzer

An American sociologist best known for his concept of "McDonaldization," analyzing the effects of globalization and rationalization on society.