If the Minimum Wage Increased, Then at Any Given Rate

question 178

Multiple Choice

If the minimum wage increased, then at any given rate of inflation

• A)both output and employment would be higher.
• B)neither output nor employment would be higher.
• C)output would be higher and unemployment would be lower.
• D)output would be lower and unemployment would be higher.

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Definitions:

Capacity Management

The practice of planning and controlling the resources of an organization or system to ensure optimal performance.

Product Flexibility

The ability of a company to modify its products to meet customer preferences or market demands.

Workforce Schedule

The planning of working hours and assignments for employees to ensure operational efficiency.

Available Capacity

The maximum amount of work that an organization is capable of completing in a given period without exceeding its resources.