-A Reduction in the Minimum Wage Will Tend to Cause

question 111

Multiple Choice

-A reduction in the minimum wage will tend to cause which of the following?

• A) a reduction in poverty
• B) an increase in the number of workers employed
• C) an increase in the quantity supplied of labor
• D) a reduction in the quantity demanded of labor

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Definitions:

Payday Loan

A brief-duration loan with high interest rates, usually payable by the borrower on their upcoming payday.

Compensation

The total amount of the various salaries, wages, bonuses, benefits, and other forms of payment given to employees for their work.

Profitable Stores

Retail or commercial outlets that generate more revenue than the operating and other costs, thereby yielding profit.

Profit Based Compensation

A remuneration strategy where employees' or executives' earnings are directly linked to the profitability of the organization.