Many People Argue Against Increasing the Minimum Wage Because They

question 76

Multiple Choice

Many people argue against increasing the minimum wage because they believe the result would be increased unemployment.Which of the following best summarizes this argument? A higher minimum wage would

• A)increase the supply of labor while decreasing the demand for labor
• B)decrease the supply of labor while increasing the demand for labor
• C)increase the quantity supplied of labor while decreasing the quantity demanded of labor
• D)decrease the quantity supplied of labor while increasing the quantity demanded of labor
• E)increase the supply of labor while decreasing the quantity demanded of labor

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Definitions:

Foreigners Own

The ownership of domestic assets such as property, companies, or government debt by non-resident individuals or entities.

Balance On Current Account

A measure of a country's international trade where the value of imports and exports of goods, services, and monetary transfers are accounted.

Inflation Rate

The percentage increase in the general level of prices for goods and services over a period.

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Goods, services, and technologies sold and shipped by the United States to other countries, contributing to the nation's income and employment.