The Disemployment Effect of a Minimum Wage Is Greater The

question 59

Multiple Choice

The disemployment effect of a minimum wage is greater the:

• A)more elastic the supply curve of unskilled workers,for a given demand curve.
• B)more inelastic the supply curve of unskilled workers,for a given demand curve.
• C)the more inelastic the demand curve for unskilled workers,for a given supply curve.
• D)the more elastic the demand curve for unskilled workers,for a given supply curve.

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Definitions:

Accounts Payable

Liabilities or money owed by a company to its creditors or suppliers for goods and services received but not yet paid for.

General Ledger

A comprehensive record of all financial transactions that occur within a company, organized by account.

Sales Journal

A specialized accounting journal used to record all sales of goods and services on credit.

Sales Revenue

The total amount of money a company receives from its sales of goods or services before any expenses are subtracted.