According to Some Supporters of the Minimum Wage, It Has

question 3

Multiple Choice

According to some supporters of the minimum wage, it has very small or even nonexistent negative employment effects because

• A) the demand for minimum-wage labor is highly elastic.
• B) it reduces turnover among minimum-wage workers, prompts employers to use them more efficiently, and thus raises their average productivity.
• C) it encourages teenagers to stay in school.
• D) employers substitute lower fringe benefits for higher pay, keeping their compensation costs the same.

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Definitions:

Successful development

The process of achieving personal, social, and professional milestones that are considered markers of progress and fulfillment across the lifespan.

Retirement

The phase of life where an individual stops working full-time, traditionally due to age.

Honeymoon

The earliest stage of retirement, when people focus on the pleasures of being free from the constraints of old schedules, dress codes, and other work demands.

Problem-focused Mechanism

A coping strategy that involves directly addressing the issue causing stress in an attempt to solve the problem.