Employers Sometimes Reduce the Fringe Benefits Provided to Workers When

question 42

Multiple Choice

Employers sometimes reduce the fringe benefits provided to workers when the government sets a minimum wage in the labor market.Due to this:

• A)the real wage that employers pay increases by more than the money wage.
• B)the real wage that employers pay declines and is at times zero.
• C)the real wage that employers pay increases at the same rate as the money wage.
• D)the real wage that employers pay increases by less than the money wage.

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Definitions:

High Skills

Refers to advanced capabilities and expertise in a particular field, often requiring extensive education or training.

Minimum Wage

The lowest legal hourly wage that an employer can pay an employee, set by government law.

Minimum Wage

The lowest legally allowed payment that an employee can be paid for their labor.

Economists

Experts in economics who analyze and interpret economic trends, data, and policies to understand and predict financial and market behaviors.