An Increase in the Minimum Wage, Which Is Above the Equilibrium

question 20

Multiple Choice

An increase in the minimum wage, which is above the equilibrium wage, will result in

• A) firms hiring less workers
• B) more people going to look for a job
• C) adverse affects on low-skilled workers
• D) more teenagers looking for jobs
• E) All of these.

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Definitions:

Science

A systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe.

Inability

The lack of physical or mental capacity to perform a task or function.

Particular Skill

A specific ability or expertise in performing a certain task or activity, often acquired through practice and learning.

Hidden Curriculum

The unofficial, unstated, or implicit patterns within a school that influence what children learn. For instance, teacher background, organization of the play space, and tracking are all part of the hidden curriculum—not formally prescribed, but instructive to the children.