The Employment Effect of a Minimum Wage Increase Is Greater

question 102

Multiple Choice

The employment effect of a minimum wage increase is greater the

• A)more elastic the demand for labor.
• B)less elastic the demand for labor.
• C)more the wage ceiling shifts the supply curve.
• D)more the wage floor shifts the demand curve.

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Definitions:

Liability

The state of being responsible for something, especially in terms of legal or financial obligations.

Unauthorized

Refers to actions taken without official permission or approval.

Personally Liable

Being personally responsible for fulfilling a legal obligation or paying off a debt, not limited to business or corporate liabilities.

Forge

To falsify something, especially a document, with the intent to deceive or defraud.