An Effective Minimum Wage Ultimately Means That

question 148

Multiple Choice

An effective minimum wage ultimately means that:

• A)some unskilled workers have a difficult time finding a job.
• B)employers must encourage workers to apply for positions.
• C)employers will have difficulty finding enough workers for their positions.
• D)workers are generally guaranteed employment.

---

Definitions:

Compounded Semi-annually

Interest calculation method where the interest is added to the principal twice a year, leading to a growth in the amount at a faster rate than simple interest.

Compounded Quarterly

This term refers to the calculation and addition of interest to the principal sum of a deposit or loan on a quarterly basis.

RRSP

A Canadian retirement savings plan that defers taxes on contributions and investment earnings until withdrawal.

Compounded Quarterly

An approach to interest calculation that involves adding the interest to the principal sum every three months.