Most Economists Think That the Minimum Wage Improves the Situation

question 65

True/False

Most economists think that the minimum wage improves the situation of the working poor because those who retain their jobs will have higher incomes.

---

Definitions:

Asset Write-downs

Reductions in the book value of assets when their fair market value falls below the carrying value on the balance sheet.

Revenues and Gains

Measures of income for a business, where revenues come from primary operations and gains from secondary activities or the sale of assets.

Peripheral Activities

Secondary or non-core operations of a company that are not essential to its primary business functions.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States to ensure financial statements are consistent and comparable.