Which of the Following Statements Is Most Accurate Regarding Who

question 356

Multiple Choice

Which of the following statements is most accurate regarding who benefits and loses from establishment of a minimum wage above the market clearing wage?

• A) Individuals who obtain jobs benefit because they earn a higher wage, but some individuals lose because employers will not hire them at the minimum wage.
• B) All workers benefit equally from the establishment of the minimum wage because just as many workers as before remain employed, and all earn the higher minimum wage.
• C) All employers benefit equally from the establishment of the minimum wage because they are able to hire fewer workers at a lower wage.
• D) All employers lose because they must pay the higher minimum wage to the same number of employees as they did before the minimum wage was established.

---

Definitions:

Decrease Decimals

The action of reducing the number of digits to the right of the decimal point in a numerical value.

Decimal Places

The number of digits following the decimal point in a number, indicating its fractional part with a precision level.

Decimal Places

Refers to the number of digits to the right of the decimal point in a number, indicating the precision of the value.

Percent Format

A numeric format in spreadsheets or databases that displays values as a percentage, multiplying the actual number by 100 and adding a percent sign.