Which of the Following Is Not a Consequence of Minimum

question 57

Multiple Choice

Which of the following is not a consequence of minimum wage laws?

• A)Low skilled workers are hurt because minimum wage reduces the number of jobs providing low skilled workers with training.
• B)Employers will be reluctant to offer low-skill workers jobs with training.
• C)Producers have an incentive to offer workers non-wage benefits such as extra health and dental care benefits and convenient working hours rather than a higher wage.
• D)Some workers benefit when the minimum wage is increased.

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Definitions:

Short Run

Refers to a period in which at least one input is fixed, limiting the capacity of the economy or firm to adjust to changes in demand.

Long Run

A period in which all inputs can be adjusted by firms, allowing for full adjustment to market conditions or changes in production technology.

Break-Even Point

The juncture where total expenses match total income, yielding neither profit nor loss.

Firm's Output

The aggregate amount of products and services generated by a business within a certain timeframe.