Table 4-7 Table 4-7 Shows the Demand and Supply Schedules

question 250

Multiple Choice

Table 4-7
Table 4-7 shows the demand and supply schedules for labor market in the city of Pixley.
-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 health 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:

Partnership Property

Assets co-owned by partners in a business partnership, where each partner has an interest in these assets in relation to their investment or agreement.

Court

An institution where legal disputes are adjudicated by judges or a jury.

Large Machine

A substantial and typically sophisticated piece of mechanical equipment, often used in industrial or manufacturing processes.

Personal Work

Tasks or activities performed by an individual that are intended for personal satisfaction, development, or benefit, rather than for employer profit.