A Binding Minimum Wage Will Increase the Income of

question 120

Multiple Choice

A binding minimum wage will increase the income of

• A) all workers.
• B) potential workers seeking employment.
• C) only those workers in jobs that would normally pay less than minimum wage.
• D) only those workers in jobs that would normally pay more than minimum wage.
• E) no workers.

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Definitions:

Venture Capitalists

Investors who provide capital to start-ups and early-stage companies with potential for high growth, typically in exchange for equity.

Startup

An entrepreneurial venture typically in the early stages of operations, often innovation-driven and aiming to meet a marketplace need by developing a viable business model around a product, service, process, or platform.

Lemon

In economic terms, refers to a product, especially a used car, that is found to be defective only after it has been bought.

Apprenticeship

A system of training a new generation of practitioners of a trade or profession with on-the-job training and often some accompanying study (classroom work and reading).