Which of the Following Statements About an Effective Minimum Wage

question 5

Multiple Choice

Which of the following statements about an effective minimum wage is true?

• A) A minimum wage shifts the demand curve for labor to the right.
• B) A minimum wage shifts the supply curve for labor to the right.
• C) A minimum wage tends to create unemployment among unskilled workers.
• D) Increasing the minimum wage makes it easier for unskilled workers to find jobs.

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Definitions:

Georg Wilhelm Friedrich Hegel

A German philosopher of the late Enlightenment period whose dialectical method emphasized the progression of thesis, antithesis, and synthesis.

Karl Marx

A 19th-century philosopher, economist, and political theorist known for his critique of capitalism and his influence on the development of socialist thought.

Friedrich Engels

A 19th-century German philosopher, social scientist, and co-author with Karl Marx of various works, including "The Communist Manifesto," known for his contributions to Marxist theory.

Social Analysis

The examination and critical evaluation of social structures, interactions, and dynamics to understand societies and their complexities.