The Minimum Wage Is an Ineffective Antipoverty Measure for All

question 70

Multiple Choice

The minimum wage is an ineffective antipoverty measure for all EXCEPT which of the following reasons?

• A) The wage ceiling created by minimum wage laws falls below the equilibrium price,producing a shortage of labor.
• B) The wage mandated by law often exceeds the value created by low-skill workers,resulting in a move away from labor-intensive processes.
• C) The wage floor created by minimum wage laws lies above the equilibrium price,producing a surplus of labor.
• D) Increased wages can force small businesses,who are less able to adapt to changes in costs,to close their operations,reducing the total quantity of jobs.
• E) An increase in wages may cause employees to lose working hours,resulting in a net change in pay that is negative.

Grasp the role and modification of presentation properties and layout.

Understand how to apply and manage animation effects in presentations.

Recognize the functionality associated with PowerPoint's view options.

Understand the process of creating and managing bullet lists and slide consistency.

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Definitions:

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices.

Sales

Transactions in which goods or services are exchanged for money.

Supply

The total amount of a specific good or service that is available to consumers, often influenced by price.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in market balance.