Those That Gain from an Increase in the Minimum Wage

question 1

Multiple Choice

Those that gain from an increase in the minimum wage are

• A)all workers.
• B)those workers who keep their jobs.
• C)employers.
• D)consumers who pay lower prices for goods.

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Definitions:

Payment

The transfer of money or goods in exchange for a product or service.

Straight Life Insurance

Insurance that requires the payment of premiums throughout the life of the insured and pays the beneficiary the face value of the policy upon the insured’s death.

Face Value

The nominal or original value printed on a security or financial instrument, such as a bond or stock certificate.