Suppose the Minimum Wage Decreased

question 74

Multiple Choice

Suppose the minimum wage decreased. At any given rate of inflation, what would happen to output and employment?

• A) Both output and employment would be higher.
• B) Both output and employment would be lower.
• C) Output would be higher and unemployment would be lower.
• D) Unemployment would be higher and output would be lower.

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Definitions:

Systematics

The scientific study of the diversity of organisms and their evolutionary relationships. Taxonomy is an aspect of systematics. See taxonomy.

Binomial

A mathematical expression consisting of two terms joined by a plus or minus sign, or a system of nomenclature involving two names to classify species.

Cladogram

A diagram that depicts the evolutionary relationships among groups of organisms, showing how evolutionary lineages branched off from common ancestors.

Phyla

Major taxonomic groups into which organisms are classified, based on common characteristics and genetic lineage.