The Minimum Wage Is A

question 33

Multiple Choice

The minimum wage is a:

• A) wage ceiling.
• B) positive externality.
• C) price floor.
• D) price ceiling.

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Definitions:

Contributory Plan

A pension plan in which contributions are made jointly by employees and employers

Registered Retirement Savings Plan

A retirement savings and investing tool for employees and the self-employed in Canada, offering tax benefits.

Pay-as-you-go Philosophy

A financial strategy where expenses are paid for as they occur, rather than using credit or accumulating debt.

Reward Philosophy

An organization’s formal approach to managing employee compensation, benefits, and recognition in alignment with overall business strategy.