The Minimum Wage Can Be Thought of as a Price

question 204

Multiple Choice

The minimum wage can be thought of as a price floor. The great majority of labor economists believe that a minimum wage __________ unemployment among young and unskilled workers.

• A) increases
• B) decreases
• C) eliminates
• D) has no effect on
• E) There is not enough information to answer the question.

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Definitions:

Valid Gift

A legally recognized transfer of property or assets from one individual to another without the expectation of payment or compensation.

Real Property

Real estate comprising the ground and any structures or natural features permanently affixed, such as homes and foliage.

Properly Executed Deed

A legal document that has been completed correctly, meeting all necessary formalities to transfer ownership of property.

Oral Declaration

A statement or announcement made verbally and not in written form, which can be legally binding under certain conditions.