Which of the Following Is Not Likely to Result from an Increase

question 95

Multiple Choice

Which of the following is not likely to result from an increase in the federal minimum wage?

• A) an increase in the quantity of low-skilled labor supplied
• B) a decrease in the quantity of low-skilled labor demanded
• C) a decrease in teenage unemployment
• D) an increase in teenage unemployment

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.

Product Supply Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product that a supplier is willing and able to supply.

Production Technology

The methods, equipment, and processes used to produce goods or services, influencing efficiency and output quality.

Demand Curve

A graph depicting the relationship between the price of a good or service and the quantity demanded for a given period.