Consider Countries a and B

question 163

Multiple Choice

Consider countries A and B.In country A the minimum wage is 30% of the median wage,and in country B the minimum wage is 60% of the median wage.As a result,the minimum wage will affect more workers in country _____ and create more unemployment in country _____.

• A) A;A
• B) A;B
• C) B;B
• D) B;A

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Definitions:

Accounting Cycle

The series of steps in processing financial transactions, from the initial recording to the preparation of financial statements.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, calculated by dividing current assets by current liabilities.

Current Liabilities

Financial commitments that need to be settled within a year or during the regular operation period of a company.

Current Assets

Assets that a company expects to convert into cash, sell, or consume within one year or its operating cycle, whichever is longer.